Market Perspectives July 13, 2017

U.S. Export Statistics

Corn: Net sales of 161,000 MT for 2016/2017 were up 15 percent from the previous week, but down 59 percent from the prior 4-week average. Increases were reported for Japan (112,200 MT, including 92,200 MT switched from unknown destinations), Spain (94,500 MT, including 65,000 MT switched from unknown destinations), Mexico (87,700 MT), Saudi Arabia (49,700 MT, including 47,000 MT switched from unknown destinations), and Peru (35,700 MT, including 32,500 MT switched from unknown destinations). Reductions were reported for unknown destinations (321,400 MT), El Salvador (12,300 MT), and the French West Indies (6,900 MT). For 2017/2018, net sales of 279,700 MT were reported primarily for Mexico (269,200 MT). Exports of 880,500 MT were down 21 percent from the previous week and 19 percent from the prior 4-week average. The primary destinations were Mexico (246,200 MT), Taiwan (98,700 MT), Spain (94,500 MT), Japan (92,200 MT), and Colombia (52,800 MT). 

Optional Origin Sales: The current optional outstanding balance for 2016/2017 of 122,000 MT is for South Korea (68,000 MT) and unknown destinations (54,000 MT). The current outstanding balance for 2017/2018 of 112,000 MT is for unknown destinations. 

Barley: Net sales of 300 MT for 2017/2018 were reported for South Korea (200 MT) and Japan (100 MT). Exports of 500 MT were reported to Japan. 

Sorghum: Net sales of 59,600 MT for 2016/2017 reported for China (112,500 MT, including 53,000 MT switched from unknown destinations and decreases of 1,500 MT) and Mexico (100 MT), were partially offset by reductions for unknown destinations (53,000 MT). Exports of 103,700 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were China (100,500 MT) and Mexico (3,200 MT).