Market Perspectives March 21, 2014

U.S. Export Statistics

Corn: Net sales of 745,800 MT for 2013/14 were up 9 percent from the previous week, but down 20 percent from the prior four-week average. Increases were reported for Colombia (181,600 MT, including 132,800 MT switched from unknown destinations and decreases of 14,400 MT), Japan (112,900 MT, including 35,200 MT switched from unknown destinations and decreases of 15,200 MT), South Korea (110,700 MT, including 54,000 MT switched from unknown destinations and decreases of 9,200 MT), China (69,500 MT), Egypt (68,000 MT) and Mexico (44,500 MT). Decreases were reported for unknown destinations (25,500 MT), Guatemala (8,100 MT), Morocco (4,000 MT) and El Salvador (1,100 MT). Exports of 927,100 MT were up 2 percent from the previous week and from the prior four-week average. The primary destinations were Colombia (219,200 MT), Japan (185,600 MT), Mexico (147,400 MT), South Korea (117,900 MT), Saudi Arabia (92,200 MT) and Peru (33,000 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 55,000 MT, all South Korea.

Barley: Net sales of 13,100 MT for 2013/14 were reported for Japan (12,600 MT) and Taiwan (500 MT). Exports of 12,800 MT were reported to Japan (12,600 MT) and South Korea (200 MT).

Sorghum: Net sales of 11,400 MT resulted as increases for Hong Kong (66,000 MT, including 60,000 MT switched from China), China (60,400 MT, switched from unknown destinations) and Japan (4,400 MT, switched from unknown destinations), were partially offset by decreases for unknown destinations (119,400 MT). Exports of 200,600 MT–a marketing-year high–were up 7 percent from the previous week and up noticeably from the prior four-week average. The primary destinations were China (129,900 MT), Hong Kong (66,000 MT), Japan (4,400 MT) and Mexico (300 MT). Export Adjustments: Accumulated exports to China were adjusted down 5,250 MT for week ending February 13. The tonnage previously reported was revised.