Market Perspectives – August 1, 2019

U.S. Export Statistics

Corn:  Net sales of 143,100 MT for 2018/2019 were up 18 percent from the previous week, but down 43 percent from the prior 4-week average.  Increases were primarily for Mexico (145,000 MT, including decreases of 14,000 MT), Japan (74,800 MT, including 79,500 MT switched from unknown destinations and decreases of 15,500 MT), Taiwan (15,900 MT, including decreases of 100 MT), Canada (7,300 MT, including decreases of 900 MT), and El Salvador (3,900 MT, including 4,000 MT switched from Guatemala and decreases of 100 MT).  Reductions were reported for unknown destinations (79,500 MT), Colombia (16,400 MT), Guatemala (7,000 MT), and the Dominican Republic (5,400 MT). For 2019/2020, net sales of 129,600 MT resulting in increases for Mexico (52,000 MT), unknown destinations (50,800 MT), and Japan (28,500 MT), were partially offset by reductions for Colombia (14,000 MT) and El Salvador (1,300 MT).

Exports of 704,100 MT were up 22 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Mexico (298,100 MT), Japan (260,800 MT), China (63,000 MT), El Salvador (28,900 MT), and Colombia (18,000 MT).

Optional Origin:  For 2018/2019, the current outstanding balance of 236,000 MT is for South Korea (121,000 MT), Taiwan (65,000 MT), and unknown destinations (50,000 MT).  For 2019/2020, the current outstanding balance of 468,600 MT is for South Korea (195,000 MT), unknown destinations (153,600 MT), and Israel (120,000 MT).

Barley:  For 2018/2019, total net sales of 5,000 MT were for Japan.  Exports of 1,800 MT were to Japan.

Sorghum:  For 2018/2019, total net sales of 200 MT were for South Korea.  Exports of 400 MT were down 99 percent from the previous week and from the prior 4-week average.  The destinations were Mexico (300 MT) and South Korea (100 MT).