Market Perspectives August 31, 2017

U.S. Export Statistics

Corn: Net sales of 188,400 MT for 2016/2017 were up 84 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for China (142,000 MT), Japan (83,800 MT, including 80,100 MT switched from unknown destinations), Colombia (63,000 MT, switched from unknown destinations), Peru (49,300 MT, switched from unknown destinations), and Guatemala (37,400 MT, including 34,700 MT switched from unknown destinations and 400 MT switched El Salvador). Reductions were reported for unknown destinations (225,600 MT), Nicaragua (2,700 MT), and Venezuela (2,000 MT). For 2017/2018, net sales of 804,200 MT were reported primarily for unknown destinations (237,800 MT), Mexico (159,800 MT), and Guatemala (114,900 MT). Exports of 983,800 MT were up 36 percent from the previous week and 13 percent from the prior 4-week average. The primary destinations were Mexico (348,700 MT), Japan (201,500 MT), China (142,200 MT), Colombia (85,700 MT), and Guatemala (62,600 MT). 

Optional Origin Sales: The current 2016/2017, optional origin outstanding balance is 54,000 MT, all unknown destinations. New optional origin sales for 2017/2018 of 60,000 MT were reported for unknown destinations. The current outstanding balance is 172,000 MT, all unknown destinations. 

Barley: No net sales were reported for the week. Exports of 200 MT were reported to Taiwan (100 MT) and South Korea (100 MT). 

Sorghum: Net sales of 280,300 MT for 2016/2017 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for China (268,300 MT, including 53,000 MT switched from unknown destinations and decreases of 2,200 MT) and unknown destinations (12,000 MT). For 2017/2018, net sales of 54,000 MT were reported for China. Exports of 154,900 MT were up noticeably from the previous week and up 58 percent from the prior 4-week average. The destinations were China (154,000 MT) and Mexico (900 MT).