Market Perspectives – June 6, 2019

U.S. Export Statistics

Corn: Net sales reductions of 8,800 MT for 2018/2019 resulting in increases for New Zealand (33,200 MT, including 33,000 MT switched from unknown destinations), Japan (24,200 MT), Mexico (20,500 MT), Guatemala (13,000 MT, including 4,500 MT switched from El Salvador and 4,000 MT switched from Colombia), and Taiwan (5,500 MT, including decreases of 100 MT), were more than offset by reductions for Nicaragua (27,300 MT), Costa Rica (27,300 MT), unknown destinations (24,300 MT), and the Dominican Republic (22,000 MT). For 2019/2020, net sales of 23,500 MT were for Mexico (10,300 MT), Canada (10,200 MT), and the French West Indies (3,000 MT). Exports of 770,000 MT were down 55 percent from the previous week and 35 percent from the prior 4-week average. The destinations were primarily to Mexico (324,300 MT), Japan (218,200 MT), South Korea (59,100 MT), New Zealand (33,200 MT), and Guatemala (32,400 MT).

Optional Origin: For 2018/2019, the current outstanding balance of 424,400 MT is for South Korea (261,400 MT), unknown destinations (98,000 MT), and Taiwan (65,000 MT). For 2019/2020, the current outstanding balance of 250,000 MT is for south Korea (130,000 MT) and unknown destinations (120,000 MT).

Barley: No net sales for 2018/2019 were reported for the week. For 2019/2020, total net sales were reported for South Korea (200 MT). Exports of 500 MT were down 44 percent from the previous week and 39 percent from the prior 4-week average. The destination was Japan.

Sorghum: Net sales of 600 MT for 2018/2019 resulted in increases for unknown destinations (5,600 MT), were partially offset by reductions for China (5,000 MT). Exports of 60,000 MT were up noticeably from the previous week and up 88 percent from the prior 4-week average. The destination was China.

Optional Origin: For 2018/2019, new optional origin sales of 500 MT were reported for unknown destinations. The current outstanding balance of 10,500 MT is for unknown destinations.