Market Perspectives – May 2, 2019

U.S. Export Statistics

Corn: Net sales of 586,500 MT for 2018/2019 were down 25 percent from the previous week and 17 percent from the prior 4-week average. Increases were reported for Japan (301,400 MT, including 38,500 MT switched from unknown destinations and decreases of 3,200 MT), Mexico (127,200 MT, including decreases of 4,700 MT), South Korea (67,200 MT, including decreases of 65,000 MT), Colombia (40,200 MT, including 22,000 MT switched from unknown destinations and decreases of 100 MT), and Guatemala (27,000 MT, including 24,000 MT switched from unknown destinations). Reductions were primarily for unknown destinations (28,800 MT). For 2019/2020, net sales of 209,500 MT were for Mexico (180,000 MT) and Japan (29,500 MT). Exports of 1,366,000 MT were up 9 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to Japan (362,300 MT), South Korea (264,600 MT), Mexico (262,500 MT), Taiwan (90,000 MT), and Colombia (76,300 MT, including 21,900 MT late reporting).

Optional Origin: For 2018/2019, options were exercised to export 66,000 MT to South Korea from the United States. The current outstanding balance of 453,500 MT is for South Korea (308,000 MT), Taiwan (65,000 MT), unknown destinations (48,000 MT), and Mexico (32,500 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: Net sales of 1,700 MT for 2018/2019 were reported for South Korea. Exports of 300 MT were down 73 percent from the previous week and 78 percent from the prior 4-week average. The destination was South Korea.

Sorghum: Net sales of 185,000 MT for 2018/2019 were up 9 percent from the previous week and 96 percent from the prior 4-week average. Increases were reported for China (124,000 MT), unknown destinations (50,000 MT), Mexico (10,600 MT, including decreases of 200 MT), and Japan (500 MT). Exports of 15,100 MT were down 84 percent from the previous week and 65 percent from the prior 4-week average. The destination was primarily to Japan (10,500 MT).