Market Perspectives – February 6, 2020

U.S. Export Statistics

Corn:  Net sales of 1,247,800 MT for 2019/2020 were up 1 percent from the previous week and 57 percent from the prior 4-week average.  Increases primarily for Mexico (439,400 MT, including 38,000 MT switched from unknown destinations and decreases of 8,100 MT), Japan (234,400 MT, including 42,500 MT switched from unknown destinations and decreases of 2,100 MT), Colombia (147,300 MT, including 7,000 MT switched from unknown destinations), unknown destinations (145,500 MT), and Trinidad (95,000 MT), were offset by reductions for Nicaragua (13,800 MT).  For 2020/2021, total net sales of 90,700 MT were for Japan.

Exports of 599,000 MT were down 12 percent from the previous week, but up 12 percent from the prior 4-week average.  The destinations were primarily to Mexico (278,400 MT), Japan (88,100 MT), Guatemala (55,700 MT), Costa Rica (54,900 MT), and Colombia (38,100 MT).

Optional Origin Sales:  For 2019/2020, new optional origin sales of 199,000 MT were reported for South Korea.  The current outstanding balance of 574,900 MT is for South Korea (466,000 MT), Egypt (58,900 MT), and Israel (50,000 MT).

Barley: No net sales for 2019/2020 were reported for the week.  For 2020/2021, total net sales of 21,500 MT were for Japan.  Exports of 1,200 MT were up 28 percent from the previous week and up noticeably from the prior 4-week average.  The destinations were Japan (1,100 MT) and Taiwan (100 MT).

Sorghum:  Net sales of 15,300 MT for 2019/2020 were primarily for Japan (11,400 MT, switched from unknown destinations).  Exports of 25,500 MT were down 83 percent from the previous week and 61 percent from the prior 4-week average.  The destinations were Mexico (14,000 MT) and Japan (11,500 MT).