Market Perspectives – July 11, 2014

U.S. Export Statistics

Corn: Net sales of 363,000 MT for 2013/14 were up 25 percent from the previous week and 36 percent from the prior four-week average. Increases were reported for South Korea (199,000 MT, including 120,000 MT switched from unknown destinations, 60,000 MT switched from China and decreases of 2,300 MT), Japan (188,600 MT, including 131,000 MT switched from unknown destinations and decreases of 22,200 MT), Egypt (126,000 MT, including 60,000 MT switched from unknown destinations), Taiwan (99,400 MT, including 63,000 MT switched from unknown destinations), Venezuela (60,000 MT, including 62,000 MT switched from unknown destinations and decreases of 2,000 MT) and Peru (46,700 MT, including 33,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (424,900 MT), China (60,600 MT), Guatemala (4,000 MT) and Nicaragua (1,300 MT). Net sales of 381,600 MT for 2014/15 were reported primarily for Egypt (176,000 MT), unknown destinations (122,500 MT), Japan (45,600 MT) and New Zealand (25,000 MT). Decreases were reported for China (3,000 MT). Exports of 1,207,100 MT were up 33 percent from the previous week and 15 percent from the prior four-week average. The primary destinations were Japan (334,100 MT), Mexico (233,000 MT), South Korea (181,700 MT), Taiwan (81,500 MT), Venezuela (80,000 MT), the Netherland s (66,000 MT), Egypt (66,000 MT) and Morocco (64,500 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 55,000 MT, all South Korea. 

Barley: Net sales of 700 MT for 2014/1015 were reported for Taiwan (500 MT) and the Philippines (200 MT). Exports of 600 MT were reported to Taiwan. 

Sorghum: Net sales of 62,400 MT for 2013/14 were reported for unknown destinations (48,700 MT), China (5,600 MT), Mexico (5,100 MT) and Japan (3,000 MT, switched from unknown destinations). Net sales of 55,000 MT for 2014/15 were reported for China. Exports of 4,800 MT were reported to Japan (3,000 MT) and China (1,800 MT).