Market Perspectives October 20, 2016

U.S. Export Statistics

Corn: Net sales of 1,023,000 MT for 2016/2017 were up 17 percent from the previous week, but down 8 percent from the prior 4-week average. Increases were for unknown destinations (226,600 MT), Colombia (197,100 MT, including 35,000 MT switched from unknown destinations and decreases of 16,400 MT), Peru (114,000 MT, including 80,000 MT switched from unknown destinations), Saudi Arabia (74,900 MT, including 68,000 MT switched from unknown destinations), and Vietnam (74,500 MT, including 70,000 MT switched from unknown destinations and decreases of 100 MT). Reductions were for Guatemala (10,000 MT) and the Dominican Republic (2,800 MT). Exports of 851,000 MT were down 32 percent from the previous week and 35 percent from the prior 4-week average. The primary destinations were Saudi Arabia (140,000 MT), Mexico (124,800 MT), Colombia (102,300 MT), Peru (84,800 MT), Vietnam (76,900 MT), Bangladesh (60,400 MT), and the Dominican Republic (42,300 MT). 

Optional Origin Sales: For 2016/2017, new optional origin sales totaling 40,000 MT were reported for unknown destinations. The current outstanding balance of 403,000 MT, is for unknown destinations (338,000 MT) and Taiwan (65,000 MT). 

Barley: No net sales were reported for the week. Exports of 200 MT were reported to Japan. 

Sorghum: Net sales of 200 MT for 2016/2017 were for Indonesia. Exports of 3,100 MT were reported to Mexico (2,900 MT) and China (200 MT).