Market Perspectives – June 13, 2014

U.S. Export Statistics

Corn: Net sales of 409,700 MT for 2013/14 were down 26 percent from the previous week and 17 percent from the prior four-week average. Increases were reported for Japan (183,900 MT, including 79,100 MT switched from unknown destinations and decreases of 24,100 MT), Egypt (154,000 MT, including 20,000 MT switched from unknown destinations), Mexico (120,500 MT), Vietnam (55,300 MT, including 60,000 MT switched from unknown destinations and decreases of 4,700 MT) and Colombia (55,000 MT, including 40,000 MT switched from unknown destinations and decreases of 28,500 MT). Decreases were reported for unknown destinations (241,800 MT), Guatemala (11,200 MT) and South Korea (1,200 MT). Net sales of 105,500 MT for 2014/15 were reported primarily for unknown destinations (100,400 MT) and Nicaragua (5,000 MT). Exports of 1,070,500 MT were down 8 percent from the previous week and 5 percent from the prior four-week average. The primary destinations were Japan (318,500 MT), Mexico (197,700 MT), Egypt (119,800 MT), Taiwan (83,800 MT), Colombia (71,300 MT), South Korea (66,900 MT) and Vietnam (55,300 MT). Optional Origin Sales: For 2013/14, outstand ing optional origin sales total 123,000 MT, all South Korea.

Barley: Net sales for the 2014/15 marketing year, which began June 1, totaled 12,600 MT and were for Japan. A total of 1,700 MT in sales were carried over from the 2013/14 marketing year, which ended May 31. Exports for the period ending May 31 of 800 MT brought accumulated exports to 176,300 MT, up 33 percent from the prior year’s total of 132,700 MT. Exports for June 1-5 totaled 13,400 MT, all Japan.

Sorghum: Net sales of 117,000 MT for 2013/14 were up noticeably from the previous week and from the prior four-week average. Increases were for China (61,000 MT, including 58,000 MT switched from unknown destinations and deceases of 100 MT), unknown destinations (47,900 MT) and Japan (8,100 MT, switched from unknown destinations). Exports of 65,900 MT were reported to China (57,900 MT) and Japan (8,000 MT).