Market Perspectives February 2, 2017

U.S. Export Statistics

Corn: Net sales of 1,143,700 MT for 2016/2017 were down 17 percent from the previous week, but up 21 percent from the prior 4-week average. Increases were for unknown destinations (235,600 MT), Colombia (212,900 MT, including 28,800 MT switched from unknown destinations), Japan (178,000 MT, including 83,100 MT switched from unknown destinations and decreases of 1,100 MT), Taiwan (133,900 MT, including decreases of 100 MT), and Morocco (80,800 MT, including 55,000 MT switched from unknown destinations). For 2017/2018, net sales of 14,000 MT were reported for Mexico. Exports of 764,600 MT were down 22 percent from the previous week and 5 percent from the prior 4-week average. The primary destinations were Mexico (151,000 MT), Japan (132,200 MT), Malaysia (69,700 MT), South Korea (58,000 MT), and Colombia (56,800 MT). 

Optional Origin Sales: For 2016/2017, the current optional origin outstanding balance of 760,000 MT is for South Korea (536,000 MT) and unknown destinations (224,000 MT). 

Barley: There were no sales or exports reported during the week. 

Sorghum: Net sales of 58,800 MT were down 23 percent from the previous week, but up 59 percent from the prior 4-week average. Increases were reported for unknown destinations (53,000 MT), Japan (5,100 MT), Mexico (1,100 MT, including decreases of 1,900 MT), and Indonesia (100 MT). Reductions were reported for China (500 MT). Exports of 200,200 MT were up 61 percent from the previous week and 91 percent from the prior 4-week average. The primary destinations were China (195,900 MT), Mexico (4,000 MT), Nigeria (200 MT), and Indonesia (100 MT).