Market Perspectives February 14, 2014

U.S. Export Statistics

Corn: Net sales of 1,269,800 MT for 2013/14 were down 25 percent from the previous week, but up 1 percent from the prior four-week average. Increases were reported for unknown destinations (421,900 MT), Colombia (233,800 MT, including 65,000 MT switched from unknown destinations and decreases of 4,400 MT), South Korea (233,500 MT), Mexico (144,200 MT) and Japan (109,700 MT, including 42,500 MT switched from unknown destinations). Decreases were reported for China (228,000 MT) and the United Kingdom (1,600 MT). Net sales of 71,100 MT for 2014/15 were reported for unknown destinations (50,800 MT) and Japan (20,300 MT). Exports of 952,500 MT were up 28 percent from the previous week and 18 percent from the prior four-week average. The primary destinations were Mexico (221,000 MT), Japan (209,100 MT), South Korea (178,300 MT), Colombia (115,700 MT) and Saudi Arabia (69,800 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 55,000 MT, all South Korea. Export Adjustments: Accumulated exports to China were adjusted down 58,100 MT for week ending October 24, 2013. Accumulated exports to China were adjusted down 59,003 MT for week ending October 31, 2013. Accumulated exports to China were adjusted down 59,302 MT for week ending November 14, 2013. South Korea is the new destination for these shipments and is included in this week’s report.

Barley: Net sales of 6,000 MT for 2013/14 were reported for South Korea. There were no exports reported during the week.

Sorghum: Net sales of 4,200 MT for 2013/14 were down 97 percent from the previous week and from the prior four-week average. Increases reported for China (4,600 MT) and Japan (2,700 MT, including 3,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (3,100 MT). Exports of 61,900 MT were reported to China (59,100 MT) and Japan (2,700 MT).