Market Perspectives – September 13, 2018

U.S. Export Statistics

Note: The new marketing year for corn, grain sorghum and soybeans began on September 1, 2018. The large “Gross Sales” reported for corn and soybeans this week are a result of USDA “rolling over” unshipped sales from last year to this year and lumping them into that category. 

Corn:  Net sales for the 2018/2019 marketing year, which began September 1, totaled 774,200 MT.  Increases were reported for Mexico (218,400 MT, including decreases of 27,900 MT), Colombia (166,600 MT, including 54,800 MT switched from unknown destinations), Japan (128,300 MT, including decreases of 3,100 MT), Peru (113,000 MT, including 50,000 MT switched from unknown destinations and decreases of 1,000 MT), and Taiwan (38,900 MT, including 35,000 MT switched from unknown destinations).  A total of 2,926,200 MT in sales were carried over from the 2017/2018 marketing year, which ended Aug 31.  Exports for the period ending Aug 31 of 264,300 MT brought accumulated exports to 57,473,700 MT, up 4 percent from the prior year’s total of 55,394,800 MT.  The primary destinations were Colombia (104,900 MT), Mexico (50,100 MT), Peru (45,200 MT), Guatemala (25,400 MT), and El Salvador (11,700 MT).  Exports for September 1-6 totaled 727,200 MT, with Japan (243,700 MT) and Mexico (226,700 MT) being the primary destinations. 

Optional Origin Sales:  For 2018/2019, the current outstanding balance of 965,000 MT is for South Korea (412,000 MT), unknown destinations (298,000 MT), Vietnam (130,000 MT), Saudi Arabia (70,000 MT), and Malaysia (55,000 MT). 

Barley:  Net sales of 1,000 MT for 2018/2019 were for Taiwan.  Exports of 400 MT were to the Philippines (200 MT), Taiwan (100 MT), and Japan (100 MT). 

Sorghum:  No net sales were reported for 2018/2019, which began September 1.  A total of 5,400 MT in sales were carried over the 2017/2018 marketing year, which ended August 31.  Exports for period ending August 31 were to Mexico (500 MT).  Accumulated exports in 2017/2018 totaled 5,080,900 MT, up 5 percent from the prior year’s total of 4,830,300 MT.  Exports for September 1-6 totaled 1,000 MT, with Mexico being the destination.