Market Perspectives – May 23, 2014

U.S. Export Statistics

Corn: Net sales of 507,900 MT for 2013/14 were up 48 percent from the previous week, but down 1 percent from the prior four-week average. Increases were reported for South Korea (508,200 MT, including 188,000 MT switched from unknown destinations), Mexico (158,000 MT), Colombia (108,900 MT, including 89,000 MT switched from unknown destinations and decreases of 1,000 MT), Taiwan (79,600 MT, including 60,000 MT switched from China), the Dominican Republic (45,600 MT) and Guatemala (27,800 MT, including 22,800 MT switched from unknown destinations). Decreases were reported for Japan (186,400 MT), unknown destinations (173,000 MT), Egypt (62,800 MT), China (60,100 MT) and the French West Indies (5,000 MT). Net sales of 62,500 MT for 2014/15 were reported for Mexico (60,000 MT) and Nicaragua (5,000 MT). Decreases were reported for Guatemala (2,500 MT). Exports of 1,159,100 MT were up 13 percent from the previous week, but down 12 percent from the prior four-week average. The primary destinations were South Korea (312,300 MT), Japan (230,200 MT), Colombia (209,400 MT), Mexico (187,300 MT), Taiwan (83,200 MT), Egypt (65,200 MT) and Guatemala (22,800 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 123,000 MT, all South Korea.  

Barley: Net sales reductions of 6,000 MT for 2013/14 were reported for South Korea. Exports of 100 MT were reported to South Korea. 

Sorghum: Net sales reductions of 5,500 MT for 2013/14 were reported for China (5,000 MT) and unknown destinations (500 MT). Net sales of 60,000 MT for 2014/15 were reported for China. Exports of 61,600 MT were reported to China. Export Adjustments: Accumulated exports to China were adjusted down 13 MT for week ending May 8. The correct destination is Taiwan and is included in this week’s report.