Market Perspectives May 5, 2016

U.S. Export Statistics

Corn: Net sales of 769,300 MT for 2015/2016 were down 64 percent from the previous week and 44 percent from the prior 4-week average. Increases were reported for Japan (458,600 MT, including 111,900 MT switched from unknown destinations and decreases of 25,300 MT), Mexico (113,900 MT, including 57,000 MT switched from unknown destinations and decreases of 18,100 MT), Taiwan (88,700 MT, including 65,000 MT switched from unknown destinations and decreases of 700 MT), Peru (67,100 MT, including 57,000 MT switched from unknown destinations and decreases of 2,100 MT), China (65,100 MT, including 60,000 MT switched from unknown destinations), and Venezuela (60,000 MT). Reductions were reported for unknown destinations (246,200 MT), Nicaragua (18,800 MT), the French West Indies (8,600 MT) and Guatemala (2,000 MT). For 2016/2017, net sales of 60,500 MT were reported for Mexico (30,000 MT), Nicaragua (17,500 MT), and Peru (13,000 MT). Exports of 1,226,000 MT were up 13 percent from the previous week and 9 percent from the prior 4-week average. The primary destinations were Mexico (373,700 MT), Colombia (257,500 MT), Peru (140,900 MT), Japan (111,900 MT), Taiwan (101,000 MT), China (65,100 MT), and Venezuela (60,000 MT).

Optional Origin Sales: For 2015/2016, new optional origin sales totaling 50,000 MT were reported for unknown destinations. The current outstanding balance totals 392,000 MT, all unknown destinations.

Export Adjustments: Accumulated exports to Honduras were adjusted down 701 MT for week ending April 21st. This is an adjustment in the shipment tonnage. 

Barley: There were no sales reported for 2015/2016 during the week. For 2016/2017, net sales of 500 MT were reported for Japan. Exports of 100 MT were reported to South Korea.

Sorghum: Net sales of 180,100 MT for 2015/2016 were up noticeably from the previous week and from the prior 4-week average. Increases reported for China (222,700 MT, including 50,000 MT switched from unknown destinations) and Mexico (2,300 MT), were partially offset by reductions for unknown destinations (44,900 MT). Exports of 229,000 MT were up noticeably from the previous week and 62 percent from prior 4-week average. The destinations were China (227,700 MT) and Mexico (1,300 MT).