Market Perspectives – May 16, 2014

U.S. Export Statistics

Corn: Net sales of 343,000 MT for 2013/14 were up noticeably from the previous week, but down 39 percent from the prior four-week average. Increases were reported for Egypt (103,800 MT), Japan (60,200 MT, including 31,700 MT switched from unknown destinations and decreases of 31,800 MT), Portugal (54,100 MT, including 55,000 MT switched from Spain and decreases of 900 MT), unknown destinations (53,600 MT), Mexico (53,200 MT), Costa Rica (37,900 MT) and Colombia (37,800 MT). Decreases were reported for Spain (155,000 MT), Guatemala (11,300 MT) and China (2,000 MT). Net sales of 47,300 MT for 2014/15 were reported for Mexico (60,000 MT) and Japan (25,300 MT). Decreases were reported for Costa Rica (37,900 MT). Exports of 1,023,300 MT were down 28 percent from the previous week and 23 percent from the prior four-week average. The primary destinations were Japan (294,200 MT), Mexico (197,600 MT), Egypt (129,800 MT), Israel (117,700 MT), Colombia (102,600 MT), Portugal (54,100 MT) and Indonesia (31,600 MT). 

Optional Origin Sales: For 2013/14, outstanding optional origin sales total 123,000 MT, all South Korea. 

Export Adjustments: Accumulated exports to China were increased 49,272 MT for week ending March 6, 2014, offsetting the decrease reported last week. Accumulated exports to Japan were decreased 49,272 MT for week ending March 6, 2014, because this shipment was reported twice. 

Barley: Net sales of 2,100 MT for 2013/14 were reported for Japan (2,000 MT) and South Korea (100 MT). Exports of 36,200 MT were reported to Japan (35,900 MT) and Taiwan (300 MT). 

Sorghum: Net sales of 66,400 MT for 2013/14 were up 1 percent from the previous week, but down 40 percent from the prior four-week average. Increases were for China (53,800 MT) and Japan (12,600 MT). Exports of 77,600 MT were reported to China (58,800 MT) and Japan (18,700 MT).