Market Perspectives – August 29, 2019

U.S. Export Statistics

Corn:  Net sales reductions of 2,500 MT resulting in increases for Mexico (13,500 MT, including decreases of 49,100 MT), El Salvador (9,200 MT, including 8,000 MT switched from Guatemala, 6,500 MT switched from Nicaragua, 4,000 MT switched from Honduras, and decreases of 400 MT), Taiwan (5,700 MT, including decreases of 100 MT), Nicaragua (3,400 MT, including 6,000 MT switched from Costa Rica and 3,800 MT switched from El Salvador), and Costa Rica (3,400 MT), were partially offset by reductions for Japan (21,900 MT) and unknown destinations (19,400 MT).  For 2019/2020, net sales of 858,900 MT were primarily for Mexico (547,200 MT), unknown destinations (83,300 MT), Guatemala (80,200 MT), Honduras (45,100 MT), and El Salvador (37,800 MT).  Exports of 611,200 MT were up 13 percent from the previous week, but down 8 percent from the prior 4-week average.  The destinations were primarily to Mexico (201,600 MT), Japan (150,900 MT), Costa Rica (88,700 MT), Guatemala (57,200 MT), and El Salvador (27,200 MT).

Optional Origin:  For 2018/2019, options were exercised to export 56,000 MT to South Korea from other than the United States.  The current outstanding balance of 65,000 MT is for South Korea.  For 2019/2020, new optional origin sales of 65,000 MT were report for South Korea.  Decreases totaling 203,600 MT were reported for unknown destinations.  The current outstanding balance of 510,000 MT is for South Korea (390,000 MT) and Israel (120,000 MT).

Barley:  For 2019/2020, total net sales of 200 MT were for South Korea.  Exports of 1,000 MT were to Japan.

Sorghum:  For 2018/2019, total net sales of 300 MT were for Mexico.  Exports of 300 MT were to Mexico.