Market Perspectives – May 15, 2015

U.S. Export Statistics

Corn: Net sales of 370,000 MT for delivery in 2014/15–a marketing-year-low–were down 56 percent from the previous week and 53 percent from the prior four-week average. Increases were reported for Japan (189,400 MT, including 137,800 MT switched from unknown destinations and decreases of 8,400 MT), Saudi Arabia (144,700 MT, including 75,800 MT switched from unknown destinations and decreases of 100 MT), Mexico (121,900 MT), Colombia (108,600 MT, including 30,800 MT switched from unknown destinations and decreases of 300 MT), Taiwan (78,700 MT) and Guatemala (41,200 MT, including 38,200 MT switched from unknown destinations). Decreases were reported for unknown destinations (245,600 MT), Iran (66,000 MT) and South Korea (60,200 MT). Net sales of 2,600 MT for 2015/16 resulted as increases for Jamaica (8,600 MT), were partially offset by decreases for Nicaragua (6,000 MT). Exports of 1,109,300 MT were down 2 percent from the previous week, but up 3 percent from the prior four-week average. The primary destinations were Japan (358,400 MT), Mexico (217,100 MT), South Korea (114,200 MT), Colombia (110,100 MT), Saudi Arabia (75,700 MT) and Peru (43,700 MT).

Barley: There were no sales reported during the week. Exports of 500 MT were reported to Japan (300 MT) and Taiwan (200 MT).

Sorghum: Net sales of 40,300 MT for 2014/15 resulted as increases for China (153,300 MT, including 113,000 MT switched from unknown destinations and decreases of 500 MT), were partially offset by decreases for unknown destinations (113,000 MT). Net sales of 108,000 MT for 2015/16 were reported for China (54,000 MT) and unknown destinations (54,000 MT). Exports of 165,800 MT were down 27 percent from the previous week and 31 percent from the prior four-week average. The destination was China.