Market Perspectives – February 28, 2019

U.S. Export Statistics

Corn: Net sales of 1,239,900 MT for 2018/2019 were reported for Mexico (396,400 MT, including 26,000 MT switched from unknown destinations and decreases of 21,800 MT), Japan (381,300 MT, including 34,400 MT switched from unknown destinations), South Korea (198,900 MT), Colombia (144,700 MT, including 50,000 MT switched from unknown destinations), and Morocco (31,000 MT, including 30,000 MT switched from unknown destinations). For 2019/2020, net sales of 120,500 MT were primarily for Japan (94,700 MT) and Mexico (23,500 MT). Exports of 769,100 MT were primarily to Mexico (292,200 MT), Japan (114,600 MT), Peru (95,600 MT), Colombia (88,100 MT), and South Korea (69,600 MT).

Optional Origin: For 2018/2019, new optional origin sales of 65,000 MT were reported for South Korea. Options were exercised to export 50,000 MT to South Korea from other than the United States. The current outstanding balance of 647,500 MT is for South Korea (520,000 MT), Taiwan (65,000 MT), Mexico (32,500 MT), and Tunisia (30,000 MT). For 2019/2020, the current outstanding balance is 55,000 MT all unknown destinations.

Export Adjustment: Accumulated exports to Colombia were adjusted down 28,000 MT for week ending February 14th. The export was reported in error.

Barley: No net sales were reported for the week. Exports of 200 MT were to Japan (100 MT) and Taiwan (100 MT).

Sorghum: Net sales of 14,200 MT for 2018/2019 were primarily for Japan (12,700 MT, including 1,100 MT switched from unknown destinations) and Mexico (2,200 MT). Exports of 13,300 MT were primarily to Japan (12,700 MT).