Market Perspectives – June 20, 2014

U.S. Export Statistics

Corn: Net sales of 109,000 MT for 2013/14 were down 73 percent from the previous week and 79 percent from the prior four-week average. Increases were reported for Japan (168,300 MT, including 91,100 MT switched from unknown destinations and decreases of 9,200 MT), Saudi Arabia (76,600 MT, including 70,000 MT switched from unknown destinations), Taiwan (64,200 MT), South Korea (59,600 MT, including 57,800 MT switched from Japan and decreases of 800 MT) and Peru (47,200 MT). Decreases were reported for unknown destinations (396,900 MT), Colombia (44,200 MT) and Costa Rica (1,100 MT). Net sales of 78,900 MT for 2014/15 were reported for Mexico (40,800 MT), unknown destinations (37,500 MT) and South Korea (600 MT). Exports of 1,123,000 MT were up 5 percent from the previous week, but down 1 percent from the prior four-week average. The primary destinations were Japan (357,900 MT), Mexico (258,700 MT), Taiwan (100,600 MT), South Korea (85,400 MT), Saudi Arabia (80,100 MT), Egypt (71,300 MT) and Colombia (67,500 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 123,000 MT, all South Korea. 

Barley: Net sales of 2,900 MT for 2014/1015 were reported for Japan (1,500 MT), South Korea (900 MT) and Taiwan (500 MT). Exports of 600 MT were reported to South Korea (400 MT) and Japan (100 MT). Export Adjustments: Accumulated exports to Japan were decreased 600 MT for week ending June 5, 2014. This shipment was reported twice.

Sorghum: Net sales of 62,200 MT for 2013/14 were reported for China. Net sales of 60,000 MT for 2014/15 were reported for China. Exports of 1,000 MT–a marketing-year low–were reported to China.