Market Perspectives – January 31, 2019

U.S. Export Statistics

Corn: Net sales of 1,699,400 MT for 2018/2019 were down 14 percent from the previous week, but up 28 percent from the prior 4-week average. Increases were reported for Mexico (746,700 MT, including decreases of 200 MT), Japan (511,800 MT, including 81,100 MT switched from unknown destinations), unknown destinations (167,600 MT), Peru (88,000 MT), and Colombia (77,000 MT, including 31,000 MT switched from unknown destinations and decreases of 1,000 MT). Reductions were reported for Guatemala (10,700 MT), Nicaragua (9,600 MT), Jamaica (2,300 MT), and Costa Rica (900 MT). For 2019/2020, total net sales were reported for Mexico (53,300 MT). Exports of 899,600 MT were down 8 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Mexico (234,700 MT), Japan (151,600 MT), South Korea (133,600 MT), Colombia (124,000 MT), and Taiwan (81,800 MT). 

Optional Origin: For 2018/2019, the current outstanding balance of 775,200 MT is for South Korea (404,000 MT), unknown destinations (306,200 MT), and Taiwan (65,000 MT).

Barley: Net sales of 600 MT were reported for Taiwan. Exports of 700 MT were to Taiwan (600 MT) and Japan (100 MT).

Sorghum: Net sales of 20,000 MT for 2018/2019 were up noticeably from the previous week, but down 44 percent from the prior 4-week average. Increases were for Japan. Exports of 700 MT were down 94 percent from the previous week and 98 percent from the prior 4-week average. The destination was Mexico.