Market Perspectives August 3, 2017

U.S. Export Statistics

Corn: Net sales of 36,700 MT for 2016/2017–marketing-year low–were down 60 percent from the previous week and 83 percent from the prior 4-week average. Increases were for China (93,400 MT, including 65,000 MT switched from unknown destinations), Colombia (43,300 MT, switched from unknown destinations), Mexico (31,200 MT), Guatemala (25,800 MT, switched from unknown destinations), and Honduras (12,800 MT, including 5,400 MT switched from El Salvador and decreases of 700 MT). Reductions were reported for unknown destinations (198,500 MT) and Canada (800 MT). For 2017/2018, net sales of 438,300 MT were reported primarily for Mexico (176,200 MT), Peru (97,200 MT), and unknown destinations (62,300 MT). Exports of 1,090,700 MT were up 22 percent from the previous week and 11 percent from the prior 4-week average. The primary destinations were Mexico (263,600 MT), Japan (250,800 MT), Colombia (152,600 MT), South Korea (130,900 MT), and China (92,200 MT). 

Optional Origin Sales: The current optional origin outstanding balance for 2016/2017 of 122,000 MT is for South Korea (68,000 MT) and unknown destinations (54,000 MT). The current outstanding balance for 2017/2018 of 112,000 MT is for unknown destinations. 

Barley: Net sales of 500 MT for 2017/2018 were up noticeably from the previous week, but down 69 percent from the prior 4-week average. Increases were reported for Taiwan. Exports of 1,100 MT were reported to Japan (800 MT) and Taiwan (300 MT). 

Sorghum: Net sales of 162,000 MT for 2016/2017 resulted as increases for China (220,000 MT, including 111,000 MT switched from unknown destinations and decreases of 2,900 MT), were partially offset by reductions for unknown destinations (58,000 MT). For 2017/2018, net sales of 60,000 MT were reported for China. Exports of 168,000 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were China (166,400 MT) and Mexico (1,600 MT).