Market Perspectives April 6, 2017

U.S. Export Statistics

Corn: Net sales of 1,138,100 MT for 2016/2017 were up 59 percent from the previous week and 13 percent from the prior 4-week average. Increases were reported for Mexico (280,500 MT, including 30,000 MT switched from unknown destinations and decreases of 18,300 MT), Colombia (252,300 MT, including 206,000 MT switched from unknown destinations and decreases of 104,300 MT), Japan (242,500 MT, including 65,400 MT switched from unknown destinations), Taiwan (135,500 MT), and South Korea (130,700 MT, including decreases of 67,000 MT). Reductions were reported for unknown destinations (287,900 MT), Haiti (700 MT), and the Leeward and Windward Islands (100 MT). For 2017/2018, net sales of 34,600 MT reported for Mexico (37,600 MT) and Guatemala (8,000 MT), were partially offset by decreases for Nicaragua (11,000 MT). Exports of 1,597,700 MT–a marketing-year high–were up 14 percent from the previous week and 11 percent from the prior 4-week average. The primary destinations were Colombia (474,500 MT), Japan (373,100 MT), Mexico (242,600 MT), Saudi Arabia (134,700 MT), and South Korea (133,500 MT). 

Optional Origin Sales: For 2016/2017, options were exercised to export 60,000 MT to South Korea from the United States. The current optional origin outstanding balance of 402,000 MT is for unknown destinations (203,000 MT) and South Korea (199,000 MT). 

Barley: No net sales were reported for the week. Exports of 700 MT were reported to Japan. 

Sorghum: Net sales of 130,200 MT for 2016/2017 were up noticeably from the previous week and 50 percent from the prior 4-week average. Increases were reported for China (63,500 MT, including decreases of 1,300 MT), unknown destinations (53,000 MT), Mexico (13,200 MT), and Taiwan (500 MT). Exports of 220,500 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were China (202,300 MT), Mexico (17,700 MT), and Taiwan (500 MT).