Market Perspectives November 10, 2016

U.S. Export Statistics

Corn: Net sales of 1,233,800 MT for 2016/2017 were down 16 percent from the previous week, but up 19 percent from the prior 4-week average. Increases were for Mexico (709,300 MT), Japan (152,200 MT, including 102,300 MT switched from unknown destinations and decreases of 200 MT), Taiwan (138,000 MT), Colombia (72,200 MT, including 58,700 MT switched from unknown destinations and decreases of 100 MT), and South Korea (55,300 MT). Reductions were for unknown destinations (52,000 MT), Costa Rica (2,100 MT), and Chile (400 MT). Exports of 892,600 MT were up 3 percent from the previous week and from the prior 4-week average. The primary destinations were Mexico (308,800 MT), Colombia (143,900 MT), Japan (142,300 MT), Peru (80,600 MT), Chile (44,600 MT), Morocco (33,000 MT), and Costa Rica (29,600 MT). 

Optional Origin Sales: For 2016/2017, new optional origin sales totaling 204,000 MT were reported for South Korea. The outstanding balance totals 549,000 MT, and is for unknown destinations (280,000 MT), South Korea (204,000 MT), and Taiwan (65,000 MT). 

Barley: Net sales of 300 MT for 2016/2017 were reported for Vietnam. Exports of 800 MT were reported to Japan. 

Sorghum: Net sales of 351,500 MT were down 13 percent from the previous week, but up noticeably from the prior the prior 4-week average. Increases were reported for China (292,500 MT, including 58,000 MT switched from unknown destinations and 114,000 MT late reporting), unknown destinations (51,500 MT), Japan (6,500 MT, including 1,500 MT switched from unknown destinations and decreases of 100 MT), and Mexico (1,000 MT). Exports of 89,300 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were China (84,500 MT), Mexico (3,300 MT), and Japan (1,500 MT).