Market Perspectives – June 6, 2014

U.S. Export Statistics

Corn: Net sales of 550,700 MT for 2013/14 were down 5 percent from the previous week, but up 39 percent from the prior four-week average. Increases were reported for Japan (242,900 MT, including 178,000 MT switched from unknown destinations and decreases of 3,900 MT), Colombia (151,100 MT, including 40,000 MT switched from China, 30,000 MT switched unknown destinations and decreases of 5,300 MT), Egypt (130,800 MT, including 60,000 MT switched from unknown destinations), South Korea (72,800 MT), Vietnam (64,500 MT, including 63,000 MT switched from unknown destinations) and Portugal (55,800 MT, including 50,000 MT switched from Spain). Decreases were reported for unknown destinations (230,400 MT) and China (92,000 MT). Net sales of 19,600 MT for 2014/15 were reported for unknown destinations (10,000 MT), Mexico (7,600 MT) and China (2,000 MT). Exports of 1,159,500 MT were down 1 percent from the previous week and 3 percent from the prior four-week average. The primary destinations were Japan (207,400 MT), Colombia (188,100 MT), Mexico (152,800 MT), South Korea (132,800 MT), Egypt (130,800 MT), Taiwan (85,700 MT) and Vietnam (64,500 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 123,000 MT, all South Korea. Export Adjustments: Accumulated exports to Colombia were adjusted down 44,000 MT for week ending May 22, 2014, because this shipment was reported twice. 

Barley: Net sales of 900 MT for 2013/14 were reported for South Korea (500 MT) and Mexico (400 MT). Net sales of 500 MT for 2014/15 were reported for South Korea. Exports of 2,500 MT were reported to Japan (1,500 MT), South Korea (500 MT), Mexico (400 MT) and Taiwan (100 MT). 

Sorghum: Net sales of 52,400 MT resulted as increases for unknown destinations (54,000 MT), were partially offset by decreases for China (1,700 MT). Net sales of 60,000 MT for 2014/15 were reported for China. Exports of 142,000 MT were reported to China.