Market Perspectives – April 18, 2019

U.S. Export Statistics

Corn: Net sales of 947,600 MT for 2018/2019 were up 73 percent from the previous week and 33 percent from the prior 4-week average. Increases were reported for Japan (365,200 MT, including 119,400 MT switched from unknown destinations and decreases of 28,100 MT), Mexico (309,700 MT, including decreases of 23,000 MT), Colombia (144,600 MT, including 123,600 MT switched from unknown destinations and decreases of 23,500 MT), South Korea (66,800 MT), and El Salvador (54,800 MT, including 9,200 MT switched from unknown destinations and 8,000 MT switched from Guatemala). Reductions were primarily for unknown destinations (51,800 MT) and the French West Indies (9,300 MT). For 2019/2020, net sales of 18,400 MT were primarily for Guatemala (4,000 MT), El Salvador (4,000 MT), and Honduras (4,000 MT). Exports of 1,224,200 MT were up 25 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Japan (392,300 MT), Mexico (334,000 MT), Colombia (179,300 MT), South Korea (141,700 MT), and Taiwan (91,600 MT).

Optional Origin: For 2018/2019, options were exercised to export 65,000 MT to South Korea from other than the United States. The current outstanding balance of 504,500 MT is for South Korea (374,000 MT), Japan (50,000 MT), unknown destinations (48,000 MT), and Mexico (32,500 MT). For 2019/2020, new optional origin sales of 65,000 MT were reported for South Korea. The current outstanding balance of 185,000 MT is for unknown destinations (120,000 MT) and South Korea (65,000 MT).

Barley: No net sales for 2018/2019 were reported for the week. Exports of 1,300 MT were up 12 percent from the previous week and 60 percent from the prior 4-week average. The destinations were to Japan (1,000 MT) and Taiwan (300 MT).

Sorghum: Net sales of 119,700 MT for 2018/2019 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for unknown destinations (108,000 MT) and Japan (11,700 MT). Exports of 22,200 MT were up noticeably from the previous week and 29 percent from the prior 4-week average. The destination was primarily to Mexico (13,400 MT).