Market Perspectives – October 18, 2018

U.S. Export Statistics

Corn: Net sales of 382,500 MT for 2018/2019–a marketing-year low–were down 62 percent from the previous week and 72 percent from the prior 4-week average. Increases were reported for Mexico (162,500 MT, including decreases of 61,200 MT), Colombia (133,000 MT, including 119,500 MT switched from unknown destinations and decreases of 2,700 MT), Japan (119,600 MT, including 68,200 MT switched from unknown destinations and decreases of 8,600 MT), Guatemala (73,300 MT), and South Korea (68,100 MT, including 65,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (326,500 MT), the Dominican Republic (18,000 MT), and Chile (1,500 MT). Exports of 1,100,400 MT were primarily to Mexico (452,100 MT), Japan (147,700 MT), Colombia (126,300 MT), Egypt (111,200 MT), and South Korea (68,300 MT). 

Optional Origin Sales: For 2018/2019, decreases of 115,000 MT were reported for Vietnam (65,000 MT) and unknown destinations (50,000 MT). The current outstanding balance of 849,000 MT is for South Korea (481,000 MT), unknown destinations (303,000 MT), and Vietnam (65,000 MT). 

Barley: No net sales were reported for the week. Exports of 300 MT were to Taiwan (200 MT) and Vietnam (100 MT). 

Sorghum: No net sales were reported for the week. Exports of 1,400 MT were reported to Mexico.