Market Perspectives – August 16, 2018

U.S. Export Statistics

Corn: Net sales of 339,000 MT for 2017/2018 were down 39 percent from the previous week and 26 percent from the prior 4-week average. Increases were reported for Japan (263,100 MT, including 50,800 MT switched from unknown destinations), Colombia (133,300 MT, including 125,000 MT switched from unknown destinations and decreases of 3,100 MT), Mexico (61,400 MT, including decreases of 14,900 MT), Peru (43,300 MT, including 38,000 MT switched from unknown destinations and decreases of 600 MT), and El Salvador (13,300 MT). Reductions were primarily for unknown destinations (157,700 MT) and Vietnam (60,000 MT). For 2018/2019, net sales of 1,044,800 MT were reported for unknown destinations (320,000 MT), Mexico (298,100 MT), South Korea (126,000 MT), Japan (70,500 MT), and Taiwan (58,600 MT). Exports of 1,220,000 MT were down 15 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Mexico (463,100 MT), Japan (290,700 MT), Colombia (147,200 MT), Peru (109,700 MT), and Egypt (44,000 MT).

Optional Origin Sales: For 2018/2019, new optional origin sales were reported for unknown destinations (244,000 MT) and Malaysia (55,000 MT). Decreases totaling 54,000 MT were reported for unknown destinations. The current outstanding balance of 965,000 MT is for unknown destinations (298,000 MT), South Korea (412,000 MT), Vietnam (130,000 MT), Saudi Arabia (70,000 MT), and Malaysia (55,000 MT).

Barley: There were no net sales or exports reported during the week.

Sorghum: Net sales of 30,100 MT for 2017/2018 were for Spain (30,000 MT) and South Korea (100 MT). There were no exports reported during the week.