Market Perspectives – April 19, 2018

U.S. Export Statistics

Corn: Net sales of 1,091,700 MT for 2017/2018 were up 30 percent from the previous week, but down 4 percent from the prior 4-week average. Increases were reported for Colombia (246,300 MT, including 123,000 MT switched from unknown destinations and decreases of 300 MT), Taiwan (175,700 MT, including 65,000 MT switched from Japan and 65,000 MT switched from unknown destinations), Japan (141,300 MT, including 57,700 MT switched from unknown destinations and decreases of 167,200 MT), South Korea (132,500 MT, including 129,000 MT switched from Japan and decreases of 4,900 MT), and China (129,500 MT, including 130,000 MT switched from unknown destinations and decreases of 800 MT). Reductions were primarily for unknown destinations (180,900 MT). For 2018/2019, net sales of 112,200 MT were for Japan (65,000 MT) and Mexico (47,200 MT). Exports of 1,593,800 MT were down 17 percent from the previous week, but up 8 percent from the prior 4-week average. The destinations were primarily to Mexico (306,600 MT), Japan (219,400 MT), South Korea (203,100 MT), Colombia (179,300 MT), and Taiwan (151,300 MT). 

Optional Origin Sales: For 2017/2018, options were exercised to export 70,000 MT to South Korea from the United States. The current optional origin outstanding balance of 713,000 MT is for South Korea (414,000 MT), unknown destinations (179,000 MT), and Vietnam (120,000 MT). 

Barley: No net sales were reported for the week. Exports of 200 MT were primarily to Taiwan. 

Sorghum: Net sales reductions of 1,300 MT for 2017/2018 resulted as increases for China (61,200 MT, including 60,000 MT switched from unknown destinations and decreases of 4,800 MT), were more than offset by reductions for unknown destinations (49,500 MT) and Japan (13,000 MT). Exports of 120,300 MT were down 39 percent from the previous week and 42 percent from the prior 4-week average. The destination was China.