Market Perspectives – November 29, 2018

U.S. Export Statistics

Corn: Net sales of 1,266,500 MT for 2018/2019 were up 44 percent from the previous week and 77 percent from the prior 4-week average. Increases were reported for South Korea (327,900 MT, including 60,000 MT switched from Japan and decreases of 66,000 MT), Colombia (267,800 MT, including 93,000 MT switched from unknown destinations, 33,000 MT switched from Trinidad and Tobago, and decreases of 900 MT), Japan (197,500 MT, including 40,200 MT switched from unknown destinations and decreases of 65,900 MT), Peru (157,000 MT, including 30,000 MT switched from unknown destinations and decreases of 3,600 MT), and Mexico (120,800 MT, including decreases of 4,400 MT). Reductions were for Trinidad and Tobago (33,000 MT). Exports of 1,053,200 MT were up 26 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (255,400 MT), Colombia (211,900 MT), Japan (207,300 MT), Peru (121,500 MT), and Taiwan (76,300 MT).

Optional Origin Sales: For 2018/2019, new optional origin sales of 66,000 MT were reported for South Korea. Options were exercised to export 69,000 MT to South Korea from the United States. The current outstanding balance of 643,200 MT is for unknown destinations (371,200 MT) and South Korea (272,000 MT).

Barley: Net sales of 1,000 MT were for Taiwan. Exports of 600 MT were to South Korea.

Sorghum: Net sales of 74,700 MT for 2018/2019 –a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. Increases were reported for unknown destinations (60,000 MT), Japan (10,000 MT) and Mexico (4,700 MT, including decreases of 700 MT). Exports of 30,200 MT were down 41 percent from the previous week, but up 42 percent from the prior 4-week average. The destination was to Mexico.