Market Perspectives – July 25, 2014

U.S. Export Statistics

Corn: Net sales of 291,500 MT for 2013/14 were down 49 percent from the previous week and 21 percent from the prior four-week average. Increases were reported for Japan (216,200 MT, including 112,300 MT switched from unknown destinations, 50,000 MT switched from China and decreases of 1,100 MT), Spain (70,000 MT, including 65,000 MT switched from unknown destinations), South Korea (67,800 MT, including 63,000 MT switched from unknown destinations and decreases of 2,400 MT), the Netherlands (52,000 MT, switched from unknown destinations), Mexico (50,200 MT) and Canada (25,600 MT). Decreases were reported for unknown destinations (220,100 MT) and China (50,000 MT). Net sales of 1,143,400 MT for 2014/15 were reported primarily for unknown destinations (644,000 MT), Japan (268,400 MT) and Costa Rica (43,800 MT). Exports of 992,500 MT were up 9 percent from the previous week, but down 4 percent from the prior four-week average. The primary destinations were Japan (262,100 MT), South Korea (255,800 MT), Mexico (139,500 MT), Egypt (133,200 MT), Spain (70,000 MT) and Costa Rica (32,600 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 55,000 MT, all South Korea.

Barley: There were no net sales or exports reported during the week. 

Sorghum: Net sales of 106,100 MT for 2013/14 resulted as increases for China (167,100 MT, including 58,000 MT switched from Germany and decreases of 900 MT) and Japan (2,200 MT, including 1,500 MT switched from unknown destinations), were partially offset by decreases for Germany (58,000 MT) and unknown destinations (5,100 MT). Net sales of 52,100 MT for 2014/15 resulted as increases for China (108,000 MT) and unknown destinations (3,600 MT). Decreases were reported for Germany (58,000 MT) and Singapore (1,500 MT). Exports of 169,400 MT were reported to China (167,200 MT) and Japan (2,200 MT).