Market Perspectives – April 11, 2019

U.S. Export Statistics

Corn: Net sales of 548,000 MT for 2018/2019 were up 2 percent from the previous week, but down 18 percent from the prior 4-week average. Increases were reported for Colombia (181,500 MT, including 82,600 MT switched from unknown destinations and decreases of 300 MT), unknown destinations (169,900 MT), South Korea (138,900 MT, including decreases of 3,400 MT), Mexico (76,600 MT, including decreases of 1,400 MT), and Saudi Arabia (71,600 MT). Reductions were primarily for Israel (162,000 MT) and El Salvador (11,900 MT). Exports of 983,000 MT were down 22 percent from the previous week, but up 4 percent from the prior 4-week average. The destinations were primarily to Mexico (264,000 MT), South Korea (206,000 MT), Saudi Arabia (158,600 MT), Japan (123,900 MT), and Colombia (88,100 MT).

Optional Origin: For 2018/2019, new optional sales totaling 65,000 MT were reported for South Korea. Options were exercised to export 135,000 MT to South Korea from the United States. The current outstanding balance of 569,500 MT is for South Korea (439,000 MT), Japan (50,000 MT), unknown destinations (48,000 MT), and Mexico (32,500 MT). For 2019/2020, the current outstanding balance is 120,000 MT, all unknown destinations.

Barley: No net sales for 2018/2019 were reported for the week. Exports of 1,200 MT were primarily to Japan (700 MT) and Taiwan (400 MT).

Sorghum: Net sales of 25,000 MT for 2018/2019 were reported for South Africa. Exports of 3,300 MT were to Japan (3,000 MT) and Mexico (300 MT).