Market Perspectives – April 4, 2019

U.S. Export Statistics

Corn: Net sales of 537,300 MT for 2018/2019 were down 41 percent from the previous week and 31 percent from the prior 4-week average. Increases were reported for Japan (258,300 MT, including decreases of 17,800 MT), Mexico (229,900 MT, including decreases of 27,600 MT), Colombia (114,900 MT, including 152,500 MT switched from unknown destinations and decreases of 21,900 MT), Peru (93,800 MT, including 84,600 MT switched from unknown destinations and decreases of 800 MT), and Honduras (29,500 MT, including 4,000 MT switched from Guatemala and 500 MT switched from unknown destinations). Reductions were primarily for unknown destinations (215,700 MT). For 2019/2020, total net sales of 93,000 MT were for Japan. Exports of 1,262,200 MT were up 32 percent from the previous week and 55 percent from the prior 4-week average. The destinations were primarily to Mexico (397,000 MT), Japan (180,400 MT), Colombia (163,700 MT), Peru (145,600 MT), and South Korea (72,500 MT).

Optional Origin: For 2018/2019, the current outstanding balance of 639,500 MT is for South Korea (509,000 MT), Japan (50,000 MT), unknown destinations (48,000 MT), and Mexico (32,500 MT). For 2019/2020, the current outstanding balance is 120,000 MT, all unknown destinations.

Barley: No net sales for 2018/2019 were reported for the week. For 2019/2020, total net sales of 500 MT were for Japan. Exports of 1,300 MT were primarily to Japan.

Sorghum: Net sales of 63,100 MT for 2018/2019 resulted in increases for Spain (55,000 MT), Mexico (8,000 MT), and South Korea (100 MT). Exports of 55,100 MT were primarily to Spain.