Market Perspectives – December 13, 2018

U.S. Export Statistics

Corn: Net sales of 903,200 MT for 2018/2019 were down 23 percent from the previous week and 14 percent from the prior 4-week average. Increases were reported for Japan (608,400 MT, including 137,100 MT switched from unknown destinations and decreases of 4,000 MT), Mexico (234,600 MT, including decreases of 96,000 MT), Saudi Arabia (146,500 MT, including 135,000 MT switched from unknown destinations), Colombia (39,800 MT, including decreases of 3,600 MT), and New Zealand (30,000 MT). Reductions were reported for unknown destinations (220,100 MT) and El Salvador (1,000 MT). For 2019/2020, total net sales were reported for Mexico (161,400 MT). Exports of 952,100 MT were down 18 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to Mexico (384,400 MT), Japan (201,400 MT), Saudi Arabia (146,500 MT), South Korea (68,400 MT), and Peru (45,000 MT).

Optional Origin: For 2018/2019, new optional origin sales of 65,000 MT were reported for Taiwan. The current outstanding balance of 825,200 MT is for South Korea (454,000 MT), unknown destinations (306,200 MT), and Taiwan (65,000 MT).

Barley: No net sales were reported for the week. Exports of 100 MT–a marketing-year low–were down 87 percent from the previous week and 89 percent from the prior 4-week average. The destination was South Korea.

Sorghum: Net sales of 2,200 MT for 2018/2019 were down 97 percent from the previous week and 96 percent from the prior 4-week average. The destination was Japan, including 1,700 MT switched from unknown destinations and decreases of 600 MT. Exports of 13,800 MT were down 87 percent from the previous week and 73 percent from the prior 4-week average. The destinations were to Japan (12,200 MT), Mexico (1,500 MT), and South Korea (100 MT).