Market Perspectives – October 4, 2018

U.S. Export Statistics

Corn: Net sales of 1,431,000 MT for 2018/2019 were reported for Mexico (527,400 MT), Canada (199,700 MT, including decreases of 400 MT), Peru (184,900 MT, including 125,000 MT switched from unknown destinations and decreases of 6,400 MT), Japan (173,900 MT, including 73,100 MT switched from unknown destinations and decreases of 3,000 MT), and South Korea (136,100 MT, including decreases of 1,300 MT). Reductions were reported for unknown destinations (62,700 MT). Exports of 1,408,100 MT were primarily to Mexico (390,600 MT), Japan (307,200 MT), Peru (154,900), South Korea (139,800 MT), and Saudi Arabia (82,500 MT).

Optional Origin Sales: For 2018/2019, options were exercised to export 138,000 MT to Saudi Arabia (70,000 MT) and South Korea (68,000 MT) from the United States. The current outstanding balance of 1,019,000 MT is for South Korea (481,000 MT), unknown destinations (353,000 MT), Vietnam (130,000 MT), and Malaysia (55,000 MT).

Barley: Net sales of 200 MT for 2018/2019 were reported for Taiwan. Exports 2,100 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. The primary destination was Japan.

Sorghum: Net sales of 20,300 MT for 2018/2019 were reported for Mexico. Exports of 1,000 MT were reported to Mexico.