Market Perspectives September 13, 2013

U.S. Export Statistics

Corn: Net sales of 332,600 MT for the 2013/14 marketing year (which began September 1) were primarily for Mexico (181,200 MT), Japan (44,300 MT, including 29,600 MT switched from unknown destinations and decreases of 4,500 MT), Costa Rica (31,600 MT, including 3,000 MT switched from El Salvador), Peru (30,000 MT), Venezuela (20,000 MT, including 10,000 MT switched from Colombia) and unknown destinations (8,800 MT). Decreases were reported for El Salvador (4,100 MT). Net Sales reductions of 59,400 MT for delivery in 2012/13 resulted as increases for Japan (24,900 MT, including 46,500 MT switched from unknown destinations and decreases of 21,600 MT), Jamaica (400 MT), and Hong Kong (100 MT), were more than offset by decreases for unknown destinations (46,500 MT), Mexico (21,600 MT) and Taiwan (16,700 MT). A total of 876,100 MT in sales were outstanding on August 31 (the end of the 2012/13 marketing year) and carried over to the 2013/14 marketing year. Exports of 64,700 MT were reported for August 31. The primary destinations were Japan (46,500 MT) and Mexico (11,100 MT). Accumulated exports for the 2012/13 marketing year were 18,044,200 MT, down 52 percent from the prior year’s total of 37,914,800 MT. Exports for September 1-5 of 171,200 MT were primarily for Japan (77,700 MT), Mexico (54,800 MT), Guatemala (12,200 MT), and Venezuela (10,000 MT). Optional Origin Sales: For 2012/13, outstanding optional origin sales total 65,000 MT, all South Korea (carried over to 2013/14). For 2013/14, outstanding optional origin sales total 165,000 MT, and are for Mexico (100,000 MT) and South Korea (65,000 MT).

Barley: There were no sales reported during the week. Exports of 100MT were to Taiwan.

Sorghum: Net sales for the 2013/14 marketing year, which began September 1, totaled 5,500 MT, resulted as increases for Mexico (40,100 MT, including 38,100 MT switched from unknown destinations), Japan (6,000 MT, switched from unknown destinations), and China (3,500 MT), were partially offset by decreases for unknown destinations (44,100 MT). A total of 275,600 MT were outstanding, and carried over to the 2013/14 marketing year. There were no sales or exports reported for the 2012/13 marketing year, which ended August 31. Accumulated exports for the 2012/13 marketing year totaled 1,340,900 MT, up 41 percent from the prior year’s total of 948,200 MT. Exports of 75,100 MT for September 1-5 were to China (58,500 MT), Mexico (10,600 MT) and Japan (6,000 MT). Optional Origin Sales: For 2013/14, outstanding optional origin sales total 60,000 MT, all China.