Market Perspectives – June 12, 2015

U.S. Export Statistics

Corn: Net sales of 495,600 MT for delivery in 2014/15 were up 7 percent from the previous week, but down 14 percent from the prior four-week average. Increases were reported for South Korea (157,500 MT, including 103,000 MT switched from unknown destinations and 55,000 MT switched from Taiwan), Japan (133,200 MT, including 48,800 MT switched from unknown destinations and decreases of 73,400 MT), Peru (72,300 MT, including 40,000 MT switched from unknown destinations and decreases of 5,200 MT), Mexico (59,200 MT), Panama (46,700 MT, including 18,300 MT switched from unknown destinations and decreases of 2,000 MT), Taiwan (31,100 MT) and Egypt (22,000 MT, including 20,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (114,900 MT). Net sales of 115,500 MT for 2015/16 reported for Mexico (118,200 MT), unknown destinations (50,800 MT), El Salvador (1,000 MT) and South Korea (500 MT), were partially offset by decreases for Japan (55,000 MT). Exports of 826,100 MT were down 14 percent from the previous week and 22 percent from the prior four-week average. The primary destinations were Mexico (241,700 MT), Taiwan (142,700 MT), South Korea (111,200 MT), Japan (103,500 MT, including 8,900 MT late reporting), Peru (62,800 MT) and Colombia (53,100 MT).

Barley: There were no net sales for the 2015/16 marketing year, which began June 1. A total of 3,900 MT in sales were carried over from the 2014/15 marketing year, which ended May 31. Exports for the period ending May 31 of 700 MT brought accumulated exports to 144,700 MT, down 18 percent from the prior year’s total of 176,300 MT. The primary destinations were Japan (400 MT) and South Korea (300 MT). Exports for June 1-4 totaled 400 MT, all Japan.

Sorghum: Net sales reductions of 500 MT for 2014/15 were reported for China. Exports of 54,400 MT–a marketing-year low–were down 74 percent from the previous week and 66 percent from the prior four-week average. The destination was China.