Market Perspectives – January 16, 2020

U.S. Export Statistics

Corn:  Net sales of 784,800 metric tons for 2019/2020 were up noticeably from the previous week and up 4 percent from the prior 4-week average.  Increases primarily for Japan (373,100 MT, including 26,600 MT switched from unknown destinations and decreases of 2,000 MT), Colombia (168,200 MT, including 127,800 MT switched from unknown destinations), Mexico (116,400 MT, including decreases of 300 MT), South Korea (66,300 MT), and Guatemala (40,000 MT), were offset by reductions primarily for unknown destinations (109,200 MT).  For 2020/2021, total net sales of 207,000 MT were for Japan.

Exports of 544,700 MT were up 6 percent from the previous week and 8 percent from the prior 4-week average.  The destinations were primarily to Mexico (192,200 MT), Colombia (180,700 MT), Japan (56,200 MT), Costa Rica (29,200 MT), and Honduras (25,000 MT).

Optional Origin Sales:  For 2019/2020, new optional origin sales of 137,000 MT were for South Korea.  Options were exercised to export 130,000 MT to South Korea from other than the United States.  The current outstanding balance of 375,900 MT is for South Korea (267,000 MT), Egypt (58,900 MT), and Israel (50,000 MT).

Barley: Total net sales of 800 MT for 2019/2020 were reported for Taiwan.  Exports of 800 MT were unchanged from the previous week, but up 19 percent from the prior 4-week average.  The destination was to Japan.

Sorghum:  Net sales of 22,100 MT for 2019/2020 were for Japan (20,000 MT), unknown destinations (2,000 MT), and Mexico (100 MT).  Exports of 22,700 MT were down 70 percent from the previous week and 73 percent from the prior 4-week average.  The destination was Mexico.