Market Perspectives – December 19, 2019

U.S. Export Statistics

Corn:  Net sales of 1,709,400 metric tons for 2019/2020–a marketing-year high–were up 96 percent from the previous week and up noticeably from the prior 4-week average.  Increases primarily for Mexico (1,152,700 MT, including decreases of 13,500 MT), Japan (214,000 MT, including 60,400 MT switched from unknown destinations and decreases of 15,000 MT), Colombia (119,400 MT, including 25,000 MT switched from unknown destinations and decreases of 400 MT), Saudi Arabia (72,600 MT, including 68,000 MT switched from unknown destinations), and Canada (46,200 MT, including decreases of 12,600 MT), were offset by reductions for Nicaragua (15,000 MT) and Panama (1,400 MT).  For 2020/2021, net sales of 536,100 MT were primarily for Mexico (526,000 MT).

Exports of 720,100 MT–a marketing-year high–were up 36 percent from the previous week and 23 percent from the prior 4-week average.  The destinations were primarily to Mexico (295,700 MT), Japan (179,600 MT), Saudi Arabia (72,600 MT), Colombia (55,400 MT), and Costa Rica (31,300 MT).

Optional Origin Sales:  For 2019/2020, new optional origin sales of 65,000 MT were reported for South Korea.  Decreases totaling 2,300 MT were reported for Israel.  The current outstanding balance of 603,000 MT is for South Korea (458,400 MT), Israel (85,700 MT), and Egypt (58,900 MT).

Barley: Total net sales of 200 MT for 2019/2020 were reported for South Korea.  Exports of 600 MT were down 31 percent from the previous week and 32 percent from the prior 4-week average.  The destinations was to Japan.

Sorghum:  Net sales of 83,700 MT for 2019/2020 resulted in increases primarily for China (72,600 MT, including 66,000 MT switched from unknown destinations), Mexico (56,900 MT, including decreases of 300 MT), and Japan (10,000 MT), were offset by reductions for unknown destinations (55,800 MT).  Exports of 88,300 MT were up noticeably from the previous week and up 93 percent from the prior 4-week average.  The destinations were China (72,600 MT) and Mexico (15,700 MT).