Market Perspectives – October 24, 2019

U.S. Export Statistics

Corn: Net sales of 491,500 metric tons for 2019/2020 were up 33 percent from the previous week and 15 percent from the prior 4-week average. Increases primarily for Mexico (347,400 MT, including decreases of 10,300 MT), Colombia (99,900 MT, including 80,000 MT switched from unknown destinations and decreases of 1,500 MT), Japan (89,100 MT, including 39,100 MT switched from unknown destinations), Costa Rica (31,600 MT, switched from unknown destinations), and Honduras (16,600 MT, including 4,000 MT switched from El Salvador, 3,000 MT switched from Nicaragua, 1,600 MT switched from Costa Rica, and decreases of 500 MT), were partially offset by reductions primarily for unknown destinations (108,000 MT). For 2020/2021, total net sales of 91,400 MT were for Mexico.

Exports of 489,000 MT were down 12 percent from the previous week, but up 11 percent from the prior 4-week average. The destinations were primarily to Mexico (209,400 MT), Colombia (175,500 MT), Japan (39,100 MT), Costa Rica (33,200 MT), and Honduras (14,800 MT).

Optional Origin Sales: For 2019/2020, new optional origin sales of 5,300 MT were reported for South Korea. The current outstanding balance of 575,300 MT is for South Korea (395,300 MT), Israel (120,000 MT), and Egypt (60,000 MT).

Barley: No net sales for 2019/2020 were reported for the week. Exports of 900 MT were down 23 percent from the previous week and 26 percent from the prior 4-week average. The destination was Japan.

Sorghum: Net sales reductions of 800 MT for 2019/2020 were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (1,100 MT), were more than offset by reductions for unknown destinations (2,000 MT).

Exports of 2,100 MT were up noticeably from the previous week, but down 31 percent from the prior 4-week average. The destinations were to Mexico (2,000 MT) and South Korea (100 MT).