Market Perspectives – July 25, 2019

U.S. Export Statistics

Corn: Net sales of 121,200 MT for 2018/2019 were down 39 percent from the previous week and 59 percent from the prior 4-week average. Increases were primarily for Japan (65,200 MT), Mexico (46,500 MT, including decreases of 11,900 MT), Colombia (32,200 MT, including 30,000 MT switched from unknown destinations), Costa Rica (21,300 MT, including 12,000 MT switched from Guatemala, 4,000 MT switched from El Salvador, 3,000 MT switched from Honduras, 3,000 MT switched from Nicaragua, and decreases of 700 MT), and Taiwan (7,100 MT). Reductions were primarily for unknown destinations (30,000 MT), Guatemala (12,000 MT), and Canada (8,400 MT). For 2019/2020, net sales of 386,600 MT were primarily for Guatemala (147,900 MT), unknown destinations (112,900 MT), Mexico (70,900 MT), Japan (27,000 MT), and Honduras (17,500 MT). Exports of 578,600 MT were down 15 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Japan (226,000 MT), Mexico (190,200 MT), Taiwan (70,000 MT), Colombia (39,400 MT), and Costa Rica (26,300 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, new optional origin sales of 60,000 MT were reported for Israel. The current outstanding balance of 468,600 MT is for South Korea (195,000 MT), unknown destinations (153,600 MT), and Israel (120,000 MT).

Barley: No net sales for 2018/2019 were reported for the week. Exports of 700 MT were primarily to Japan (400 MT).

Sorghum: Net sales of 4,100 MT for 2018/2019 were reported for Mexico (3,100 MT), Japan (900 MT), and South Korea (100 MT). Exports of 54,500 MT were up 5 percent from the previous week, but down 27 percent from the prior 4-week average. The destinations were Mexico (43,600 MT) and Japan (10,900 MT).