Market Perspectives – November 1, 2018

U.S. Export Statistics

Corn: Net sales of 394,400 MT for 2018/2019 were up 13 percent from the previous week, but down 50 percent from the prior 4-week average. Increases were reported for Mexico (192,200 MT, including decreases of 9,700 MT), Colombia (97,100 MT, including decreases of 200 MT), Peru (63,400 MT, including 50,000 MT switched from unknown destinations), Japan (55,800 MT, including 15,100 MT switched from unknown destinations and decreases of 67,700 MT), and Costa Rica (46,400 MT). Reductions were reported for Vietnam (66,000 MT), South Korea (62,800 MT), and Guatemala (10,100 MT). For 2019/2020, total net sales were reported for Colombia (5,000 MT). Exports of 755,000 MT were primarily to Mexico (309,500 MT), Japan (132,500 MT), Peru (86,400 MT), South Korea (73,800 MT), and Colombia (36,800 MT).

Optional Origin Sales: For 2018/2019, new optional origin sales of 6,000 MT were reported for unknown destinations. Options were exercised to export 138,000 MT to South Korea from other than the United States. The current outstanding balance of 717,000 MT is for South Korea (343,000 MT), unknown destinations (309,000 MT), and Vietnam (65,000 MT).

Barley: Net sales reductions for Japan (100 MT) were for 2018/2019–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average. Exports of 600 MT were primarily to Japan (400 MT).

Sorghum: Net sales of 12,100 MT for 2018/2019 were reported for South Africa (7,000 MT) and Mexico (5,100 MT). Exports of 600 MT–a marketing-year low–were down 5 percent from the previous week and 96 percent from the prior 4-week average. The destination was Mexico.