Market Perspectives – March 6, 2015

U.S. Export Statistics

Corn: Net sales of 828,100 MT for 2014/15 were up 16 percent from the previous week, but down 5 percent from the prior four-week average. Increases were reported for Saudi Arabia (285,300 MT, including 135,000 MT switched from unknown destinations), Japan (262,000 MT, including 210,600 MT switched from unknown destinations and decreases of 64,600 MT), Mexico (218,000 MT), Colombia (113,900 MT, including 65,000 MT switched from Peru, 30,000 MT switched from unknown destinations and decreases of 8,700 MT), Taiwan (66,100 MT) and South Korea (64,900 MT). Decreases were reported for unknown destinations (301,900 MT). Net sales of 158,700 MT for 2015/2016 were reported for Japan (157,400 MT) and unknown destinations (1,300 MT). Exports of 1,378,800 MT–a marketing-year high–were up 59 percent from the previous week and 91 percent from the prior four-week average. The primary destinations were Japan (402,500 MT), Mexico (231,200 MT), Colombia (162,200 MT), Saudi Arabia (145,300 MT), Egypt (131,000 MT), South Korea (67,000 MT), the Dominican Republic (42,900 MT) and Peru (33,000 MT, late reporting). Optional Origin Sales: For 2014/15, outstanding optional origin sales total 68,000 MT, all South Korea.

Barley: Net sales of 1,300 MT for 2014/15 were reported for Canada (1,200 MT) and Japan (100 MT). There were no exports reported during the week.

Sorghum: Net sales of 182,400 MT for 2014/15 resulted as increases for China (380,400 MT, including 253,000 MT switched from unknown destinations and decreases of 1,600 MT), were partially offset by decreases for unknown destinations (198,000 MT). Net sales of 57,000 MT for 2015/2016 were reported for China (60,000 MT). Decreases were reported for unknown destinations (3,000 MT). Exports of 319,400 MT were up 51 percent from the previous week and 75 percent from the prior four-week average. The destination was China.