Market Perspectives – July 18, 2019

U.S. Export Statistics

Corn: Net sales of 200,000 MT for 2018/2019 were down 60 percent from the previous week and 21 percent from the prior 4-week average. Increases were reported for Japan (144,300 MT, including 21,200 MT switched from unknown destinations and decreases of 9,900 MT), unknown destinations (31,200 MT), Jamaica (18,500 MT), Canada (14,300 MT, including decreases of 200 MT), and Mexico (10,500 MT, including decreases of 47,700 MT). Reductions were primarily for Colombia (31,700 MT).

For 2019/2020, net sales of 133,000 MT were reported for Panama (104,100 MT), Mexico (11,200 MT), Colombia (9,000 MT), unknown destinations (7,600 MT), and Honduras (1,100 MT). Exports of 682,400 MT were down 40 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (302,800 MT), Japan (143,300 MT), Colombia (63,800 MT), South Korea (60,000 MT), and Guatemala (30,600 MT).

Optional Origin: For 2018/2019, 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: No net sales for 2018/2019 were reported for the week. Exports of 500 MT were to South Korea.

Sorghum: Net sales of 28,100 MT for 2018/2019 reported for China (51,100 MT, including decreases of 1,900 MT) and Eritrea (30,000 MT), were partially offset by reductions for unknown destinations (53,000 MT). Exports of 51,900 MT were down 40 percent from the previous week and 18 percent from the prior 4-week average. The destinations were China (51,100 MT) and Mexico (800 MT).