Market Perspectives – April 25, 2019

U.S. Export Statistics

Corn: Net sales of 779,900 MT for 2018/2019 were down 18 percent from the previous week, but up 6 percent from the prior 4-week average. Increases were reported for Japan (349,400 MT, including 92,400 MT switched from unknown destinations and decreases of 300 MT), Mexico (310,500 MT, including decreases of 21,900 MT), Colombia (117,400 MT, including 69,400 MT switched from unknown destinations and decreases of 300 MT), Peru (30,000 MT, switched from unknown destinations), and Honduras (18,400 MT). Reductions were primarily for unknown destinations (85,800 MT). For 2019/2020, total net sales of 3,000 MT were for Nicaragua. Exports of 1,248,700 MT were up 2 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Mexico (445,300 MT), Japan (399,500 MT), Colombia (194,200 MT), South Korea (62,400 MT), and Peru (30,000 MT).

Optional Origin: For 2018/2019, new optional origin sales of 65,000 MT were reported for Taiwan. Decreases totaling 50,000 MT were reported for Japan. The current outstanding balance of 519,500 MT is for South Korea (374,000 MT), Taiwan (65,000 MT), unknown destinations (48,000 MT), and Mexico (32,500 MT). For 2019/2020, the current outstanding balance of 185,000 MT is for unknown destinations (120,000 MT) and South Korea (65,000 MT).

Barley: Net sales of 200 MT for 2018/2019 were reported for South Korea. Exports of 1,000 MT were down 26 percent from the previous week and 12 percent from the prior 4-week average. The destinations were to Japan (800 MT), Taiwan (100 MT), and South Korea (100 MT).

Sorghum: Net sales of 170,300 MT for 2018/2019 were up 42 percent from the previous week and up noticeably from the prior 4-week average. Increases reported for China (60,000 MT), Spain (55,000 MT), unknown destinations (53,000 MT), and South Africa (2,500 MT), were partially offset by reductions for Japan (200 MT). Exports of 92,400 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to Spain (55,000 MT), South Africa (27,500 MT), and Japan (9,800 MT).