Market Perspectives December 15, 2016

U.S. Export Statistics

Corn: Net sales of 1,516,000 MT for 2016/2017 were up 1 percent from the previous week and 8 percent from the prior 4-week average. Increases were for South Korea (538,200 MT, including 65,000 MT switched from unknown destinations), Mexico (342,800 MT, including decreases of 15,500 MT), Japan (171,500 MT, including 24,800 MT switched from unknown destinations and decreases of 400 MT), Colombia (162,200 MT, including 45,000 MT switched from unknown destinations and decreases of 300 MT), and Taiwan (154,000 MT, including 65,000 MT switched from unknown destinations and decreases of 200 MT). Reductions were for unknown destinations (296,400 MT), Honduras (14,400 MT), and Nicaragua (3,600 MT). For 2017/2018, net sales of 24,100 MT were reported for El Salvador (13,000 MT) and Mexico (11,100 MT). Exports of 835,700 MT were down 39 percent from the previous week, but up 2 percent from the prior 4-week average. The primary destinations were Mexico (198,600 MT), Saudi Arabia (131,100 MT), Japan (103,600 MT), Taiwan (87,100 MT), and South Korea (68,500 MT). 

Optional Origin Sales: For 2016/2017, new optional origin sales totaling 332,000 MT were reported for South Korea. Sales totaling 69,800 MT were switched from unknown destinations to Colombia and Japan. The current optional origin outstanding balance of 878,000 MT is for South Korea (604,000 MT) and unknown destinations (274,000 MT). 

Barley: Net sales of 1,300 MT for 2016/2017–marketing-year high–were reported for Japan. Exports of 500 MT were reported to Japan. 

Sorghum: Net sales of 260,200 MT for 2016/2017 were up noticeably from the previous week and 24 percent from the prior 4-week average. Increases were reported for China (208,500 MT, including 58,000 MT switched from unknown destinations and decreases of 700 MT) and unknown destinations (54,500 MT). Reductions were reported for Mexico (2,800 MT). Exports of 111,400 MT were down 52 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were China (109,300 MT), Indonesia (1,000 MT), and Mexico (1,000 MT).