Market Perspectives January 26, 2017

U.S. Export Statistics

Corn: Net sales of 1,370,400 MT for 2016/2017 were up 2 percent from the previous week and 63 percent from the prior 4-week average. Increases were for unknown destinations (358,000 MT), Japan (292,000 MT, including decreases of 65,500 MT), Colombia (171,800 MT, including decreases of 25,000 MT), Mexico (169,700 MT, including decreases of 42,800 MT), and South Korea (138,100 MT, including 71,500 MT switched from unknown destinations and decreases of 5,000 MT). Reductions were for Canada (1,000 MT). For 2017/2018, net sales of 21,000 MT were reported for Mexico. Exports of 978,500 MT were up 6 percent from the previous week and 22 percent from the prior 4-week average. The primary destinations were Mexico (326,100 MT), Taiwan (154,000 MT), South Korea (143,500 MT), Colombia (86,900 MT), and Japan (57,100 MT). 

Optional Origin Sales: For 2016/2017, options were exercised to export 68,000 MT to South Korea from the United States. The current optional origin outstanding balance of 760,000 MT is for South Korea (536,000 MT) and unknown destinations (224,000 MT). 

Barley: Net sales of 200 MT for 2016/2017 were reported for Taiwan. There were no exports reported during the week. 

Sorghum: Net sales of 76,500 MT were up 34 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for unknown destinations (42,500 MT), Japan (20,500 MT), Mexico (9,100 MT), China (4,100 MT, including decreases of 1,200 MT), and Indonesia (300 MT). Exports of 124,400 MT were up noticeably from the previous week and 22 percent from the prior 4-week average. The primary destinations were China (108,100 MT), Mexico (9,100 MT), Japan (5,500 MT), Nigeria (1,100 MT), and Indonesia (500 MT).