Market Perspectives – June 20, 2019

U.S. Export Statistics

Corn: Net sales of 38,400 MT for 2018/2019 were down 77 percent from the previous week and 90 percent from the prior 4-week average. Increases were reported for Japan (107,500 MT, including 104,200 MT switched from unknown destinations and decreases of 30,800 MT), Honduras (9,300 MT, including 12,200 MT switched from Guatemala and decreases of 2,900 MT), the French West Indies (8,100 MT), Canada (7,900 MT), and Taiwan (7,500 MT). Reductions were primarily for unknown destinations (61,500 MT), Mexico (22,700 MT), Colombia (21,000 MT), and Guatemala (10,500 MT). For 2019/2020, net sales of 360,800 MT reported for unknown destinations (184,400 MT), Mexico (175,000 MT), and Canada (2,900 MT), were partially offset by reductions for the French West Indies (1,500 MT). Exports of 640,900 MT–a marketing-year low–were down 28 percent from the previous week and 40 percent from the prior 4-week average. The destinations were primarily to Mexico (266,800 MT), Japan (155,900 MT), Saudi Arabia (68,700 MT), Honduras (39,200 MT), and Taiwan (38,400 MT). 

Optional Origin: For 2018/2019, decreases totaling 4,000 MT were reported for South Korea. The current outstanding balance of 349,000 MT is for South Korea (186,000 MT), unknown destinations (98,000 MT), and Taiwan (65,000 MT). For 2019/2020, new optional origin sales of 125,000 MT were reported for South Korea (65,000 MT) and Israel (60,000 MT). The current outstanding balance of 375,000 MT is for South Korea (195,000 MT), unknown destinations (120,000 MT), and Israel (60,000 MT). 

Barley: No net sales for 2018/2019 were reported for the week. Exports of 600 MT were primarily to Japan (500 MT). 

Sorghum: Net sales of 2,000 MT for 2018/2019 were reported for Mexico. Exports of 3,000 MT were down 94 percent from the previous week and 92 percent from the prior 4-week average. The destination was Mexico. 

Optional Origin: For 2018/2019, the current outstanding balance of 10,500 MT is for unknown destinations.