Market Perspectives – March 21, 2019

U.S. Export Statistics

Corn: Net sales of 855,900 MT for 2018/2019 were reported for Japan (346,800 MT, including 59,400 MT switched from unknown destinations), South Korea (193,500 MT), Mexico (127,400 MT, including decreases of 8,500 MT), Taiwan (93,000 MT, including decreases of 5,900 MT), and Guatemala (32,200 MT, including 24,300 MT switched from unknown destinations, 5,000 MT switched from El Salvador, 1,800 MT switched from Panama, and decreases of 2,800 MT). Reductions were reported for unknown destinations (47,800 MT). For 2019/2020, total net sales were reported for Japan (60,000 MT). Exports of 764,200 MT were primarily to Japan (277,900 MT), Mexico (138,300 MT), Taiwan (124,100 MT), Colombia (54,600 MT), and Guatemala (42,400 MT).

Optional Origin: For 2018/2019, new optional sales totaling 110,000 MT were reported for South Korea (60,000 MT) and Japan (50,000 MT). Options were exercised to export 65,000 MT to Taiwan from the United States. Decreases totaling 30,000 MT were reported for Tunisia. The current outstanding balance of 657,500 MT is for South Korea (575,000 MT), Japan (50,000 MT), and Mexico (32,500 MT). For 2019/2020, the current outstanding balance is 120,000 MT, all unknown destinations.

Barley: Net sales reductions of 900 MT for 2018/2019 resulted in increases for Taiwan (100 MT), were more than offset by reductions for Japan (1,000 MT). For 2019/2020, total net sales were reported for Japan (1,000 MT). Exports of 200 MT were to Taiwan (100 MT) and South Korea (100 MT).

Sorghum: Net sales of 64,900 MT for 2018/2019 resulted in increases for China (65,000 MT), were partially offset by reductions for Japan (100 MT). Reductions were reported for Japan (100 MT). Exports of 10,100 MT were to Japan (9,900 MT) and Mexico (200 MT).