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Market Perspectives – March 14, 2019

Contents

  1. Chicago Board of Trade Market News
  2. CBOT May Corn Futures
  3. U.S. Weather/Crop Progress
  4. U.S. Export Statistics
  5. FOB
  6. Distiller's Dried Grains with Solubles (DDGS)
  7. Country News
  8. Ocean Freight Markets and Spread
  9. Ocean Freight Comments

U.S. Export Statistics

Corn: Net sales of 372,000 MT for 2018/2019 were reported for South Korea (120,200 MT, late reporting), Japan (110,600 MT, including 22,500 MT switched from unknown destinations and decreases of 27,000 MT), Guatemala (73,700 MT), Taiwan (68,900 MT, including decreases of 1,100 MT), and Colombia (61,800 MT, switched from unknown destinations). Reductions were primarily for unknown destinations (53,200 MT), Morocco (30,000 MT), Peru (21,800 MT), and Mexico (20,000 MT). For 2019/2020, net sales of 474,600 MT were primarily for Mexico (269,600 MT) and Japan (202,000 MT, late reporting). Exports of 785,800 MT were primarily to Japan (319,700 MT), Mexico (225,600 MT), Colombia (135,700 MT), Guatemala (30,500 MT), and El Salvador (26,200 MT).

Optional Origin: For 2018/2019, the current outstanding balance of 642,500 MT is for South Korea (515,000 MT), Taiwan (65,000 MT), Mexico (32,500 MT), and Tunisia (30,000 MT). For 2019/2020, the current outstanding balance is 120,000 MT, all unknown destinations.

Barley: Net sales of 1,100 MT for 2018/2019 were report for South Korea. Exports of 200 MT were to Taiwan.

Sorghum: Net sales of 9,500 MT for 2018/2019 were reported for Japan, including decreases of 500 MT. Exports of 9,700 MT were to Japan (9,500 MT) and Mexico (200 MT).