Market Perspectives February 11, 2016

U.S. Export Statistics

Corn: Net sales of 405,000 MT for 2015/2016 were down 64 percent from the previous week and 57 percent from the prior 4-week average. Increases were reported for Japan (113,700 MT, including 40,700 MT switched from unknown destinations), Colombia (71,800 MT, including 61,000 MT switched from unknown destinations and decreases of 45,800 MT), Taiwan (68,600 MT), Mexico (47,100 MT), Peru (42,000 MT, including 30,000 MT switched from unknown destinations), and Panama (26,100 MT, including 20,700 MT switched from unknown destinations). Reductions of 40,600 MT were reported for unknown destinations. For 2016/2017, net sales reductions of 58,900 MT were for Japan. Exports of 528,700 MT were down 20 percent from the previous week and 16 percent from the prior 4-week average. The primary destinations were Mexico (199,900 MT), Colombia (106,900 MT), Japan (103,300 MT), Peru (33,000 MT), Taiwan (29,600 MT), and Guatemala (22,200 MT).

Optional Origin Sales: For 2015/2016, the current outstanding balance totals 398,000 MT, all unknown destinations.

Barley: There were no sales reported during the week. Exports of 400 MT were reported to Japan (300 MT) and Taiwan (100 MT).

Sorghum: Net sales of 188,600 MT for 2015/2016 for Pakistan (109,800 MT, including 13,800 MT switched from unknown destinations), China (92,000 MT, including 49,900 MT switched from unknown destinations and decreases of 14,300 MT), and Mexico (3,000 MT), were partially offset by reductions for unknown destinations (16,300 MT). Exports of 240,000 MT were up 45 percent from the previous week and 50 percent from prior 4-week average. The destinations were China (222,400 MT), Pakistan (14,800 MT), and Mexico (2,800 MT).