Market Perspectives February 25, 2016

U.S. Export Statistics

Corn: Net sales of 934,400 MT for 2015/2016 were down 11 percent from the previous week, but up 10 percent from the prior 4-week average. Increases were reported for Japan (334,800 MT, including 58,000 MT switched from unknown destinations and decreases of 5,300 MT), unknown destinations (170,500 MT), Costa Rica (125,200 MT), Colombia (123,000 MT, including 35,000 MT switched from unknown destinations and decreases of 2,500 MT), and Mexico (118,700 MT). Reductions were reported for the Dominican Republic (31,000 MT) and the French West Indies (2,000 MT). For 2016/2017, net sales of 131,800 MT were for unknown destinations (105,200 MT) and Japan (26,700 MT). Exports of 870,700 MT–a marketing-year high–were up 19 percent from the previous week and 36 percent from the prior 4-week average. The primary destinations were Mexico (353,200 MT), Japan (248,600 MT), Colombia (182,300 MT), South Korea (58,100 MT), and Taiwan (11,700 MT).

Optional Origin Sales: For 2015/2016, the current outstanding balance is 340,000 MT, all unknown destinations.

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

Sorghum: Net sales of 43,200 MT for 2015/2016 were down 78 percent from the previous week and 73 percent from the prior 4-week average. Increases for China (119,700 MT, including 100,300 MT switched from unknown destinations and decreases of 6,600 MT) and Pakistan (29,000 MT, switched from China), were partially offset by reductions for unknown destinations (105,500 MT). Exports of 216,400 MT were up 24 percent from the previous week and 27 percent from prior 4-week average. The destinations were China (211,700 MT) and Mexico (4,600 MT).