Market Perspectives – December 12, 2019

U.S. Export Statistics

Corn: Net sales of 873,500 metric tons for 2019/2020 were up 60 percent from the previous week and 28 percent from the prior 4-week average. Increases primarily for Mexico (517,200 MT, including decreases of 2,800 MT), Japan (176,700 MT, including 59,000 MT switched from unknown destinations and decreases of 2,600 MT), Canada (104,900 MT, including decreases of 21,200 MT), Colombia (53,900 MT, including 43,300 MT switched from unknown destinations and decreases of 4,900 MT), and Panama (49,900 MT, including 7,200 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (67,400 MT), Guatemala (7,600 MT), and Nicaragua (4,100 MT). For 2020/2021, total net sales of 2,400 MT were for Canada.

Exports of 531,400 MT were up 7 percent from the previous week, but down 12 percent from the prior 4-week average. The destinations were primarily to Mexico (260,900 MT), Japan (81,900 MT), Colombia (76,000 MT), Panama (27,400 MT), and Honduras (23,100 MT).

Optional Origin Sales: For 2019/2020, new optional origin sales of 5,400 MT were reported for South Korea. The current outstanding balance of 540,300 MT is for South Korea (393,400 MT), Israel (88,000 MT), and Egypt (58,900 MT).

Barley: Total net sales reductions of 400 MT for 2019/2020–a marketing-year low–were reported for Japan. Exports of 900 MT were down 10 percent from the previous week and 6 percent from the prior 4-week average. The destinations were Japan (400 MT), South Korea (400 MT), and Taiwan (100 MT).

Sorghum: Net sales of 33,400 MT for 2019/2020 resulted in increases for Mexico (23,700 MT, including decreases of 900 MT) and Japan (14,800 MT, including 5,100 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions for unknown destinations (5,100 MT). Exports of 16,200 MT were down 88 percent from the previous week and 67 percent from the prior 4-week average. The destinations were Mexico (11,400 MT) and Japan (4,800 MT).