Market Perspectives – July 11, 2019

U.S. Export Statistics

Corn: Net sales of 505,400 MT for 2018/2019 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Japan (444,800 MT, including 51,800 MT switched from unknown destinations, decreases of 1,000 MT, and 379,200 MT late reporting), Colombia (84,800 MT, including 45,000 MT switched from unknown destinations), Mexico (33,200 MT, including 25,000 MT switched from unknown destinations and decreases of 25,500 MT), Panama (8,000 MT, switched from unknown destinations), and Honduras (2,000 MT). Reductions were reported for unknown destination (64,300 MT) and the French West Indies (7,400 MT). For 2019/2020, net sales reductions of 108,400 MT resulting in increases for the French West Indies (7,400 MT) and unknown destinations (4,300 MT), were more than offset by reductions for Japan (120,000 MT). Exports of 1,135,800 MT were up noticeably from the previous week and up 80 percent from the prior 4-week average. The destinations were primarily to Japan (737,400 MT, including 379,200 MT late reporting), Mexico (224,400 MT), Colombia (122,400 MT), Canada (21,000 MT), and Taiwan (15,700 MT).

Optional Origin: For 2018/2019, options were exercised to export 65,100 MT to South Korea from other than the United States. The current outstanding balance of 236,000 MT is for South Korea (121,000 MT), Taiwan (65,000 MT), and unknown destinations (50,000 MT). For 2019/2020, the current outstanding balance of 408,600 MT is for South Korea (195,000 MT), unknown destinations (153,600 MT), and Israel (60,000 MT).

Barley: Net sales of 400 MT for 2019/2020 were reported for Taiwan. Exports of 2,200 MT were to Japan (2,000 MT) and Taiwan (200 MT).

Sorghum: Net sales of 66,400 MT for 2018/2019 were reported for Mexico (40,000 MT), Japan (20,400 MT, late reporting), and China (6,000 MT). Exports of 86,700 MT were up 67 percent from the previous week and 62 percent from the prior 4-week average. The destinations were China (66,300 MT) and Japan (20,400 MT, late reporting).