Market Perspectives – July 3, 2014

U.S. Export Statistics

Corn: Net sales of 290,700 MT for 2013/14 were up 14 percent from the previous week, but down 12 percent from the prior four-week average. Increases were reported for Mexico (129,800 MT), Japan (90,600 MT, including 49,000 MT switched from unknown destinations and decreases of 10,200 MT), the Netherlands (66,000 MT, including 60,000 MT switched from unknown destinations), South Korea (62,800 MT, including 60,000 MT switched from unknown destinations and decreases of 2,300 MT), Saudi Arabia (62,100 MT, including 55,600 MT switched from unknown destinations) and Portugal (53,900 MT, including 55,000 MT switched from Spain and decreases of 1,100 MT). Decreases were reported for unknown destinations (182,500 MT), Spain (55,000 MT), Egypt (39,400 MT) and Venezuela (25,000 MT). Net sales of 474,700 MT for 2014/15 were reported primarily for unknown destinations (224,800 MT), Japan (67,100 MT), Guatemala (59,600 MT), El Salvador (59,500 MT) and Mexico (59,000 MT). Exports of 909,500 MT were down 16 percent from the previous week and 18 percent from the prior four-week average. The primary destinations were South Korea (193,000 MT), Egypt (156,600 MT), Mexico (135,100 MT), Japan (78,900 MT), the Netherlands (66,000 MT), Saudi Arabia (64,100 MT) and Colombia (62,000 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 55,000 MT, all South Korea. Export Adjustments: Accumulated exports to Spain were adjusted down 66,000 MT for week ending June 19, 2014. This shipment was reported twice.

Barley: Net sales of 1,100 MT for 2014/1015 were reported for Taiwan (1,000 MT) and South Korea (100 MT). Exports of 500 MT were reported to South Korea. 

Sorghum: Net sales of 60,900 MT for 2013/14 were reported for unknown destinations (58,000 MT) and China (2,900 MT). Net sales of 58,000 MT for 2014/15 were reported for unknown destinations. Exports of 1,700 MT were reported to China.