Market Perspectives December 1, 2016

U.S. Export Statistics

Corn: Net sales of 761,600 MT for 2016/2017 were down 55 percent from the previous week and 50 percent from the prior 4-week average. Increases were for Japan (228,300 MT, including 41,100 MT switched from unknown destinations and decreases of 1,000 MT), South Korea (140,900 MT, including 131,000 MT switched from unknown destinations), Mexico (77,800 MT, including decreases of 1,800 MT), Taiwan (66,700 MT, including decreases of 2,600 MT), and Honduras (63,400 MT, including 12,400 MT switched from unknown destinations and decreases of 6,100 MT). Reductions were for the Dominican Republic (158,200 MT), Guatemala (17,100 MT), and Morocco (10,000 MT). Exports of 808,800 MT were up 40 percent from the previous week and 12 percent from the prior 4-week average. The primary destinations were Mexico (186,700 MT), South Korea (141,900 MT), Japan (119,100 MT), Colombia (61,400 MT), and the Dominican Republic (53,300 MT).  

Optional Origin Sales: For 2016/2017, the current optional origin outstanding balance of 611,000 MT is for unknown destinations (274,000 MT), South Korea (272,000 MT), and Taiwan (65,000 MT).  

Export Adjustments: Accumulated exports of corn to Honduras were adjusted down 14,172 MT for week ending November 17th. The correct destination is Nicaragua and is included in this week’s report. 

Barley: No net sales were reported for the week. Exports of 100 MT were reported to South Korea.  

Sorghum: Net sales of 227,000 MT were down 22 percent from the previous week and 34 percent from the prior 4-week average. Increases were reported for China (162,500 MT, including 56,000 MT switched from unknown destinations) and unknown destinations (64,500 MT). Exports of 59,200 MT were down 48 percent from the previous week and 6 percent from the prior 4-week average. The destinations were China (56,500 MT), Nigeria (1,800 MT), and Mexico (900 MT).