Market Perspectives April 21, 2016

U.S. Export Statistics

Corn: Net sales of 1,202,800 MT for 2015/2016 were up 6 percent from the previous week and 31 percent from the prior 4-week average. Increases were reported for Japan (337,200 MT, including 61,100 MT switched from unknown destinations and decreases of 6,900 MT), Mexico (196,300 MT), Saudi Arabia (115,600 MT, including 45,000 MT switched from unknown destinations), unknown destinations (109,100 MT), Colombia (85,500 MT, including 60,500 MT switched from unknown destinations and decreases of 8,900 MT), and South Korea (65,200 MT). Reductions were reported for the Dominican Republic (21,200 MT). For 2016/2017, net sales of 123,100 MT were reported for Mexico (90,000 MT), unknown destinations (35,000 MT), Costa Rica (33,400 MT), Panama (19,000 MT), and El Salvador (2,000 MT). Reductions were reported for Japan (56,300 MT). Exports of 1,283,500 MT–a marketing-year-high–were up 27 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were Japan (398,200 MT), Colombia (313,900 MT), Mexico (279,900 MT), Peru (60,700 MT), Guatemala (47,500 MT), and Saudi Arabia (45,600 MT).

Optional Origin Sales: For 2015/2016, new optional origin sales totaling 60,000 MT were reported for unknown destinations. The current outstanding balance totals 365,000 MT, all unknown destinations.

Barley: There were no sales reported for 2015/2016 during the week. Exports of 100 MT–a marketing-year-low–were reported to South Korea.

Sorghum: Net sales of 30,400 MT for 2015/2016 resulted as increases for China (61,600 MT, including 55,000 MT switched from unknown destinations), Mexico (10,100 MT), and Pakistan (3,700 MT), were partially offset by reductions for Turkey (45,000 MT). Exports of 192,100 MT were up 50 percent from the previous week and 20 percent from prior 4-week average. The destinations were China (117,000 MT), Pakistan (63,700 MT), Mexico (11,300 MT), and Indonesia (100 MT).