Market Perspectives – March 8, 2018

U.S. Export Statistics

Corn: Net sales of 1,857,600 MT for 2017/2018 were up 8 percent from the previous week and 6 percent from the prior 4-week average. Increases were reported for unknown destinations (385,900 MT), Japan (376,800 MT, including 36,300 MT switched from unknown destinations and decreases of 60,200 MT), Mexico (366,200 MT, including decreases of 1,300 MT), Taiwan (165,400 MT, including decreases of 100 MT), and Vietnam (134,000 MT). Reductions were reported for Portugal (35,500 MT) and Guatemala (6,700 MT). For 2018/2019, net sales of 70,300 MT were primarily reported for Japan (67,900 MT). Exports of 1,076,800 MT were down 13 percent from the previous week, but up 10 percent from the prior 4-week average. The destinations were primarily to Mexico (294,300 MT), Japan (230,800 MT), South Korea (134,200 MT), Colombia (77,600 MT), and the Netherlands (71,400 MT).

Optional Origin Sales: For 2017/2018, the current optional origin outstanding balance of 706,000 MT is for South Korea (274,000 MT), unknown destinations (246,000 MT), and Vietnam (186,000 MT).

Barley: Net sales of 15,000 MT were reported for Canada. Exports of 300 MT were reported to Japan (200 MT) and Taiwan (100 MT).

Sorghum: Net sales reductions of 1,700 MT for 2017/2018 resulted as increases for China (115,300 MT), were more than offset by reductions for unknown destinations (117,000 MT). Exports of 421,700 MT were up noticeably from the previous week and from the prior 4-week average. The destination was primarily to China.