Market Perspectives – April 17, 2015

U.S. Export Statistics

Corn: Net sales of 588,200 MT for delivery in 2014/15 were down 8 percent from the previous week, but up 19 percent from the prior four-week average. Increases were reported for Japan (194,300 MT, including 43,000 MT switched from unknown destinations and decreases of 66,600 MT), South Korea (166,000 MT, including 88,000 MT switched from unknown destinations and decreases of 2,300 MT), China (65,200 MT), Mexico (51,500 MT) and Guatemala (36,700 MT, including 42,900 MT switched from unknown destinations and decreases of 5,000 MT). Decreases were reported for unknown destinations (60,400 MT) and the Dominican Republic (3,300 MT). Net sales of 28,500 MT for 2015/16 were reported for unknown destinations (21,000 MT), Guatemala (4,600 MT) and El Salvador (3,000 MT). Exports of 870,900 MT were down 26 percent from the previous week and 4 percent from the prior four-week average. The primary destinations were Japan (276,100 MT), South Korea (255,900 MT), Mexico (178,900 MT), Colombia (63,300 MT), Guatemala (46,800 MT), El Salvador (20,800 MT) and Morocco (17,500 MT). Optional Origin Sales: For 2014/15, options were exercised to export 68,000 MT to South Korea from the United States. 

Barley: There were no sales or exports reported during the week.

Sorghum: Net sales of 66,300 MT for 2014/15 resulted as increases for China (124,800 MT, including 58,000 MT switched from unknown destinations and decreases of 7,000 MT) and Japan (9,500 MT, including 10,000 MT switched from unknown destinations and decreases of 500 MT), were partially offset by decreases for unknown destinations (68,000 MT). Net sales of 58,000 MT for 2015/16 were reported for unknown destinations. Exports of 350,800 MT–a marketing-year high–were up 92 percent from the previous week and 51 percent from the prior four-week average. The destinations were primarily for China (341,200 MT) and Japan (9,500 MT).