Market Perspectives October 6, 2016

U.S. Export Statistics

Corn: Net sales of 2,060,800 MT were reported for 2016/2017. The primary destinations were Mexico (1,251,100 MT), Japan (200,100 MT, including 75,400 MT switched from unknown destinations and decreases of 4,500 MT), Saudi Arabia (136,800 MT, including 111,000 MT switched from unknown destinations and decreases of 900 MT), South Korea (128,300 MT, including 125,000 MT switched from unknown destinations and decreases of 400 MT), and Colombia (86,000 MT, including 32,000 MT switched from unknown destinations, and decreases of 8,600 MT). Reductions were for unknown destinations (92,900 MT), Costa Rica (9,900 MT), and Chile (2,900 MT). For 2017/2018, net sales of 541,000 MT were reported for Mexico. Exports of 1,390,200 MT were reported to Japan (376,000 MT), South Korea (261,800 MT), Mexico (166,400 MT), Saudi Arabia (136,800 MT), Taiwan (76,200 MT), Chile (69,800 MT), and Colombia (69,100 MT). 

Optional Origin Sales: For 2016/2017, options were exercised the export 58,000 MT to Japan (switched from unknown destinations) from the United States. The current outstanding balance of 283,000 MT, is for unknown destinations (218,000 MT), and Taiwan (65,000 MT).  

Barley: Net sales of 200 MT for 2016/2017 were reported for Taiwan (100 MT) and Japan (100 MT). Exports of 200 MT were reported to Taiwan. 

Sorghum: Net sales of 5,000 MT for 2016/2017 resulted as increases for Japan (9,300 MT, including 8,100 MT switched from unknown destinations and decreases of 1,100 MT) and Nigeria (2,400 MT), were partially offset by reductions for unknown destinations (6,600 MT). Exports of 19,500 MT were reported to Japan (19,300 MT) and Mexico (200 MT).