Market Perspectives April 4, 2014

U.S. Export Statistics

Corn: Net sales of 960,600 MT for 2013/14 were down 32 percent from the previous week and 12 percent from the prior four-week average. Increases were reported for Japan (236,500 MT, including 118,300 MT switched from unknown destinations), South Korea (184,600 MT, including 60,000 MT switched from Japan and decreases of 3,200 MT), Egypt (136,200 MT, including 60,000 MT switched from China), Guatemala (106,500 MT, including 20,700 MT switched from unknown destinations, 4,900 MT switched Nicaragua, and 1,900 MT switched from Costa Rica), Colombia (92,300 MT, including 56,900 MT switched from unknown destinations and decreases of 5,600 MT), Taiwan (73,100 MT, including 63,000 MT switched from unknown destinations), Saudi Arabia (69,000 MT, including 65,000 MT switched from China) and Mexico (60,100 MT). Decreases were reported for China (221,400 MT), Honduras (2,500 MT), and Nicaragua (1,200 MT). Net sales of 37,900 MT for 2014/15 were reported for Costa Rica. Exports of 1,425,700 MT were up 16 percent from the previous week and 36 percent from the prior four-week average. The primary destinations were Japan (324,800 MT), Egypt (261,200 MT), Mexico (207,600 MT), Colombia (163,000 MT), South Korea (123,300 MT), Taiwan (74,400 MT) and Saudi Arabia (69,000 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 123,000 MT, all South Korea. Export Adjustments: Accumulated exports to Venezuela were adjusted down 25,000 MT for week ending March 20, 2014. This shipment was reported twice.

Barley: Net sales of 500 MT for 2013/14 were reported for Taiwan. Net sales of 2,400 MT for 2014/15 were reported for Japan. Exports of 300 MT were reported to South Korea.

Sorghum: Net sales of 200 MT for 2013/14 resulted as increases for Japan (15,400 MT switched from unknown destinations) and China (200 MT), were partially offset by decreases for unknown destinations (15,400 MT). Exports of 77,700 MT were reported to China (61,400 MT), Japan (15,400 MT) and Mexico (900 MT).