Market Perspectives April 20, 2017

U.S. Export Statistics

Corn: Net sales of 756,400 MT for 2016/2017 were up 3 percent from the previous week, but down 23 percent from the prior 4-week average. Increases were reported for Japan (339,300 MT, including 194,500 MT switched from unknown destinations and decreases of 29,100 MT), South Korea (198,700 MT), Peru (94,300 MT, including 86,000 MT switched from unknown destinations and decreases of 5,800 MT), Taiwan (75,200 MT, including decreases of 100 MT), and Nigeria (50,000 MT). Reductions were reported for unknown destinations (191,400 MT), the French West Indies (4,400 MT), and the Dominican Republic (1,700 MT). For 2017/2018, net sales of 91,800 MT were reported for Japan (71,500 MT) and Mexico (20,300 MT). Exports of 1,408,300 MT were up 31 percent from the previous week and 3 percent from the prior 4-week average. The primary destinations were Japan (503,900 MT), Mexico (425,700 MT), Peru (122,300 MT), Taiwan (90,400 MT), and the Dominican Republic (76,900 MT). 

Optional Origin Sales: For 2016/2017, options were exercised to export 68,000 MT to South Korea from the United States. Decreases of 40,000 MT were reported for unknown destinations. The current optional origin outstanding balance for 2016/2017 of 294,000 MT is for unknown destinations (163,000 MT) and South Korea (131,000 MT). The current optional origin outstanding balance for 2017/2018 of 58,000 MT is for unknown destinations. 

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

Sorghum: Net sales of 46,900 MT for 2016/2017 resulted as increases for China (100,700 MT, including 53,000 MT switched from unknown destinations and decreases of 2,800 MT), were partially offset by reductions for unknown destinations (53,000 MT), Japan (600 MT), and Mexico (200 MT). Exports of 136,000 MT were up 39 percent from the previous week and 40 percent from the prior 4-week average. The destinations were China (107,200 MT), Mexico (19,400 MT), and Japan (9,400 MT).