Market Perspectives March 2, 2017

U.S. Export Statistics

Corn: Net sales of 692,400 MT for 2016/2017 were down 7 percent from the previous week and 24 percent from the prior 4-week average. Increases were for Mexico (260,200 MT, including decreases of 7,400 MT), Japan (132,900 MT, including 81,400 MT switched from unknown destinations), South Korea (119,600 MT, including 55,000 MT switched from unknown destinations and decreases of 3,200 MT), Saudi Arabia (115,500 MT, including 116,000 MT switched from unknown destinations and decreases of 800 MT), and Colombia (101,800 MT, including 78,000 MT switched from unknown destinations and decreases of 15,900 MT). Reductions were reported for unknown destinations (378,800 MT) and Guatemala (3,600 MT). For 2017/2018, net sales of 20,600 MT were reported for Japan (13,000 MT) and Mexico (7,600 MT). Exports of 1,497,800 MT–a marketing-year high–were up 24 percent from the previous week and 38 percent from the prior 4-week average. The primary destinations were Mexico (376,300 MT), Japan (254,700 MT), Colombia (144,000 MT), South Korea (119,900 MT), and Saudi Arabia (115,500 MT). 

Optional Origin Sales: For 2016/2017, new optional origin sales totaling 63,000 MT were reported for South Korea. Cancellations totaling 136,000 MT were reported for South Korea. The current optional origin outstanding balance of 756,000 MT is for unknown destinations (293,000 MT) and South Korea (463,000 MT). 

Barley: Net sales of 600 MT for 2016/2017 were reported for Taiwan (300 MT), Japan (300 MT), and South Korea (100 MT). For 2017/2018, net sales of 4,400 MT were reported for Japan. Exports of 700 MT were reported to Japan (500 MT) and Taiwan (200 MT). 

Sorghum: Net sales of 16,200 MT for 2016/2017 were down 81 percent from the previous week and 78 percent from the prior 4-week average. Increases were for China (51,700 MT, including decreases of 1,300 MT), the Republic of South Africa (49,500 MT, including 42,500 MT switched from unknown destinations), Japan (10,000 MT), and Taiwan (500 MT). Reductions were reported for unknown destinations (95,500 MT). Exports of 102,800 MT were down 42 percent from the previous week and 30 percent from the prior 4-week average. The destinations were China (51,700 MT), the Republic of South Africa (49,500 MT), Indonesia (900 MT), and Mexico (600 MT).