Market Perspectives March 31, 2016

U.S. Export Statistics

Corn: Net sales of 790,600 MT for 2015/2016 were down 2 percent from the previous week and 27 percent from the prior 4-week average. Increases were reported for Taiwan (266,000 MT), South Korea (127,000 MT, including 60,000 MT switched from unknown destinations), Japan (126,600 MT, including 90,600 MT switched from unknown destinations and decreases of 64,100 MT), Colombia (112,400 MT), and El Salvador (65,200 MT, including 35,800 MT switched from unknown destinations and 15,600 MT switched from Colombia. Reductions were reported for unknown destinations (175,400 MT) and the French West Indies (4,000 MT). For 2016/2017, net sales of 69,600 MT were reported for unknown destinations (72,200 MT) and Nicaragua (3,000 MT). Reductions were for Japan (5,600 MT). Exports of 1,136,000 MT–a marketing-year-high–were up 14 percent from the previous week and 22 percent from the prior 4-week average. The primary destinations were Japan (333,600 MT), Mexico (292,000 MT), Colombia (180,800 MT), El Salvador (78,000 MT), China (64,100 MT), Panama (41,300 MT), and Mozambique (39,500 MT).

Optional Origin Sales: For 2015/2016, the current outstanding balance totals 398,000 MT, all unknown destinations.

Barley: There were no sales or exports reported during the week. For 2016/2017, net sales of 100 MT were reported for Japan.

Sorghum: Net sales reductions of 7,200 MT for 2015/2016 resulted as increases for Pakistan (54,000 MT, including 56,300 MT switched from unknown destinations and decreases of 2,400 MT) and Mexico (1,100 MT), were more than offset by reductions for unknown destinations (60,000 MT) and China (2,200 MT). Exports of 225,700 MT were up 58 percent from the previous week and 78 percent from prior 4-week average. The destinations were China (150,900 MT), Pakistan (74,000 MT), and Mexico (900 MT).