Market Perspectives – May 16, 2019

U.S. Export Statistics

Corn: Net sales of 553,300 MT for 2018/2019 were up 92 percent from the previous week, but down 15 percent from the prior 4-week average. Increases were reported for Colombia (226,700 MT, including 44,500 MT switched from unknown destinations), Japan (121,400 MT, including 93,800 MT switched from unknown destinations), Mexico (121,400 MT, including decreases of 84,300 M), South Korea (57,600 MT), and Guatemala (36,400 MT, including 600 MT switched from El Salvador). Reductions were for unknown destinations (67,200 MT) and Trinidad (800 MT). For 2019/2020, net sales of 80,800 MT were primarily for Panama (38,800 MT), Guatemala (25,600 MT), and unknown destinations (12,700 MT). Exports of 983,900 MT were down 15 percent from the previous week and 21 percent from the prior 4-week average. The destinations were primarily to Mexico (279,400 MT), Japan (276,200 MT), South Korea (117,100 MT), Colombia (99,900 MT), and Taiwan (79,000 MT).

Optional Origin: For 2018/2019, decreases of 50,000 MT were reported for South Korea. The current outstanding balance of 371,000 MT is for South Korea (258,000 MT), Taiwan (65,000 MT), and unknown destinations (48,000 MT). For 2019/2020, the current outstanding balance of 185,000 MT is for unknown destinations (120,000 MT) and South Korea (65,000 MT).

Barley: No net sales for 2018/2019 were reported for the week. Exports of 1,000 MT were up 30 percent from the previous week and 18 percent from the prior 4-week average. The destinations were to Japan (700 MT), South Korea (200 MT), and Taiwan (100 MT).

Sorghum: Net sales of 48,800 MT for 2018/2019 were down 11 percent from the previous week and 63 percent from the prior 4-week average. Increases reported for unknown destinations (53,000 MT) and Mexico (1,400 MT), were partially offset by reductions for China (5,600 MT). Exports of 70,200 MT were up noticeably from the previous week and from the prior 4-week average. The destination was primarily to China (59,400 MT).

Optional Origin: For 2018/2019, the current outstanding balance of 10,000 MT is for unknown destinations.