Market Perspectives March 17, 2016

U.S. Export Statistics

Corn: Net sales of 1,227,000 MT for 2015/2016 were up 5 percent from the previous week and 17 percent from the prior 4-week average. Increases were reported for Japan (437,300 MT, including 109,400 MT switched from unknown destinations and decreases of 69,900 MT), Mexico (283,900 MT), unknown destinations (191,300 MT), the Dominican Republic (66,400 MT), China (52,500 MT), and Colombia (43,300 MT). Reductions were reported for South Korea (900 MT). For 2016/2017, net sales of 61,400 MT were reported for Mexico (47,400 MT) and Honduras (14,000 MT). Exports of 873,900 MT were down 17 percent from the previous week, but up 4 percent from the prior 4-week average. The primary destinations were Mexico (285,100 MT), Japan (260,200 MT), Colombia (132,300 MT), South Korea (64,200 MT), Venezuela (30,000 MT), and Guatemala (25,100 MT).

Optional Origin Sales: For 2015/2016, new optional origin sales totaling 58,000 MT were reported for unknown destinations. Decreases totaling 58,000 MT were reported for unknown destinations. The current outstanding balance totals 340,000 MT, all unknown destinations.

Barley: There were no sales or exports reported during the week.

Sorghum: Net sales of 9,400 MT for 2015/2016 resulted as increases for China (63,700 MT, including 59,200 MT switched from unknown destinations and decreases of 3,500 MT), Japan (8,400 MT, including 8,100 MT switched from unknown destinations), Mexico (5,300 MT), and Indonesia (200 MT), were partially offset by reductions for unknown destinations (68,100 MT). Exports of 150,100 MT were up 40 percent from the previous week, but down 1 percent from prior 4-week average. The destinations were China (127,900 MT), Japan (18,400 MT), and Mexico (3,800 MT).