Market Perspectives March 24, 2016

U.S. Export Statistics

Corn: Net sales of 803,200 MT for 2015/2016 were down 35 percent from the previous week and 27 percent from the prior 4-week average.  Increases were reported for Japan (350,400 MT, including 121,700 MT switched from unknown destinations and decreases of 101,700 MT), Colombia (142,100 MT), Saudi Arabia (73,700 MT, including 70,000 MT switched from unknown destinations), Taiwan (70,400 MT, including 60,000 MT switched from unknown destinations and decreases of 100 MT), South Korea (62,500 MT, including 63,000 MT switched from unknown destinations and decreases of 500 MT), and Peru (60,900 MT, including 33,000 MT switched from unknown destinations and decreases of 1,500 MT).  Reductions were reported for unknown destinations (209,500 MT).  For 2016/2017, net sales of 99,900 MT were reported for unknown destinations (65,000 MT), Costa Rica (56,500 MT), and Nicaragua (12,000 MT).  Reductions were for Japan (33,600 MT).  Exports of 997,500 MT were up 14 percent from the previous week and 13 percent from the prior 4-week average.  The primary destinations were Mexico (297,300 MT), Japan (284,300 MT), Peru (93,900 MT), Saudi Arabia (73,700 MT), South Korea (62,500 MT), and Colombia (35,800 MT). 

Optional Origin Sales:  For 2015/2016, new optional origin sales totaling 58,000 MT were reported for unknown destinations.  The current outstanding balance totals 398,000 MT, all unknown destinations. 

Barley: There were no sales reported during the week.  Exports of 200 MT were reported to South Korea. 

Sorghum: Net sales of 57,600 MT for 2015/2016 resulted as increases for China (108,000 MT), South Africa (37,500 MT, including 35,000 MT switched from unknown destinations), Japan (10,100 MT), and Mexico (1,000 MT), were partially offset by reductions for unknown destinations (96,500 MT) and Pakistan (2,500 MT).  Exports of 143,300 MT were down 5 percent from the previous week and 1 percent from prior 4-week average.  The destinations were China (67,000 MT), South Africa (37,500 MT), Pakistan (26,500 MT), Japan (10,100 MT), and Mexico (2,200 MT).