Market Perspectives December 8, 2016

U.S. Export Statistics

Corn:  Net sales of 1,495,400 MT for 2016/2017 were up 96 percent from the previous week and 12 percent from the prior 4-week average.  Increases were for Peru (426,000 MT, including decreases of 7,700 MT), Japan (320,800 MT, including 147,900 MT switched from unknown destinations), Mexico (218,800 MT, including 28,000 MT switched from unknown destinations, 20,000 MT switched from Canada, and decreases of 12,800 MT), South Korea (206,100 MT), and Saudi Arabia (182,000 MT, including 176,000 MT switched from unknown destinations and decreases of 1,600 MT).  Reductions were for unknown destinations (469,800 MT) and Canada (16,400 MT).  For 2017/2018, net sales of 1,000 MT were reported for Nicaragua.  Exports of 1,366,400 MT were up 69 percent from the previous week and 94 percent from the prior 4-week average.  The primary destinations were Japan (292,000 MT), Mexico (256,700 MT), Taiwan (214,000 MT), Saudi Arabia (182,000 MT), and Peru (72,800 MT). 

Optional Origin Sales:  For 2016/2017, options were exercised to export 65,000 MT to Taiwan from the United States.  The current optional origin outstanding balance of 546,000 MT is for unknown destinations (274,000 MT) and South Korea (272,000 MT). 

Barley: No net sales were reported for the week.  Exports of 900 MT were reported to Japan. 

Sorghum: Net sales reductions of 10,400 MT for 2016/2017–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (44,600 MT, including 55,000 MT switched from unknown destinations and decreases of 17,300 MT) and Nigeria (100 MT), were more than offset by reductions for unknown destinations (55,000 MT) and Mexico (100 MT).  Exports of 232,900 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  The destinations were China (210,200 MT), Mexico (22,100 MT), and Nigeria (700 MT).