Market Perspectives February 7, 2014

U.S. Export Statistics

Corn: Net sales of 1,700,100 MT for 2013/14 were down 8 percent from the previous week, but up 94 percent from the prior four-week average. Increases were reported for Japan (798,900 MT, including 117,000 MT switched from China, 83,700 MT switched from unknown destinations, and decreases of 50,000 MT), unknown destinations (311,900 MT), Spain (280,000 MT), Vietnam (78,100 MT) and Taiwan (66,500 MT, including 57,400 MT switched from China). Decreases were reported for China (72,400 MT) and Peru (1,400 MT). Exports of 747,300 MT were down 26 percent from the previous week and 3 percent from the prior four-week average. The primary destinations were Japan (255,000 MT), Taiwan (137,000 MT), Mexico (121,700 MT), Vietnam (63,100 MT) and Venezuela (32,000 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 63,127 MT for week ending December 19, 2013. Vietnam is the new destination for these shipments and is included in this week’s report

Barley: Net sales of 32,400 MT for 2013/14 were reported for Japan. Exports of 44,100 MT–a marketing-year high–were to Japan (43,900 MT) and Taiwan (200 MT)

Sorghum: Net sales of 125,800 MT for 2013/14 were down 34 percent from the previous week, but up 18 percent from the prior four-week average. Increases reported for China (297,500 MT, including 175,000 MT switched from unknown destinations and decreases of 2,200 MT), were partially offset by decreases for unknown destinations (117,300 MT) and Japan (54,500 MT). Exports of 149,500 MT were to China (144,200 MT) and Japan (5,300 MT).Optional Origin Sales: For 2013/14, outstanding optional origin sales total 60,000 MT, all China.