Market Perspectives March 14, 2014

U.S. Export Statistics

Corn: Net sales of 683,400 MT for 2013/2014 were down 55 percent from the previous week and 37 percent from the prior four-week average. Increases were reported for Japan (262,400 MT, including 154,200 MT switched from China and 38,400 MT from unknown destinations, and decreases of 800 MT), South Korea (212,200 MT), Taiwan (145,500 MT, including 56,900 MT switched from unknown destinations and decreases of 800 MT), Colombia (108,300 MT, including 30,000 MT switched from unknown destinations) and Mexico (101,500 MT). Decreases were reported for unknown destinations (362,600 MT) and China (116,500 MT). Net sales of 103,600 MT for 2014/15 were reported for unknown destinations (101,600 MT) and Mexico (2,000 MT). Exports of 907,400 MT were down 20 percent from the previous week and 2 percent from the prior four-week average. The primary destinations were Japan (351,300 MT), Taiwan (126,000 MT), Mexico (118,700 MT), Saudi Arabia (80,000 MT) and Peru (64,900 MT). Optional Origin Sales: For 2013/2014, outstanding optional origin sales total 55,000 MT, all South Korea. Export Adjustments: Accumulated exports to China were adjusted down 56,932 MT for week ending November 14, 2013. The correct destination is Taiwan and is included in this week’s report.

Barley: There were no net sales reported during the week. Exports of 100 MT were reported to Taiwan.

Sorghum: Net sales of 900 MT resulted as increases for China (117,000 MT, including 116,000 MT switched from unknown destinations and decreases of 1,700 MT), were more than offset by decreases for unknown destinations (116,000 MT) and Japan (100 MT). Exports of 188,300 MT–a marketing-year high–were up noticeably from the previous week and from the prior four-week average. The primary destinations were China (179,300 MT) and Japan (9,000 MT).