Market Perspectives November 3, 2016

U.S. Export Statistics

Corn:  Net sales of 1,473,500 MT for 2016/2017 were up 84 percent from the previous week and 24 percent from the prior 4-week average.  Increases were for Japan (219,400 MT, including 112,000 MT switched from unknown destinations and decreases of 23,800 MT), Mexico (206,100 MT, including decreases of 16,100 MT), Cuba (204,300 MT), Colombia (196,100 MT, including 75,000 MT switched from unknown destinations and decreases of 5,300 MT), and South Korea (188,800 MT, including 60,000 MT switched from unknown destinations and decreases of 200 MT).  Reductions were for El Salvador (13,600 MT), Costa Rica (5,300 MT), and Vietnam (700 MT).  Exports of 868,700 MT were up 66 percent from the previous week, but down 13 percent from the prior 4-week average.  The primary destinations were Mexico (163,800 MT), Japan (144,000 MT), Colombia (141,600 MT), South Korea (127,000 MT), Egypt (56,700 MT), Peru (41,400 MT), and Jordan (32,700 MT). 

Optional Origin Sales:  For 2016/2017, the current optional origin outstanding balance totals 345,000 MT, and is for unknown destinations (280,000 MT) and Taiwan (65,000 MT). 

Barley: Net sales of 300 MT for 2016/2017 were reported for Taiwan (200 MT) and South Korea (100 MT).  Exports of 700 MT were reported to Vietnam (500 MT) and Japan (200 MT). 

Sorghum: Net sales of 404,000 MT for 2016/2017–a marketing-year high–were up noticeably from the previous week and from the prior the prior 4-week average.  Increases were reported for China (316,000 MT), unknown destinations (50,000 MT), Mexico (33,000 MT), and Japan (5,000 MT).  Exports of 39,100 MT were down 37 percent from the previous week, but up 5 percent from the prior 4-week average.  The destinations were China (33,000 MT) and Mexico (6,100 MT).