Market Perspectives – September 19, 2019

U.S. Export Statistics

Corn:  Net sales of 1,464,600 MT for 2019/2020 were primarily for Mexico (1,158,200 MT, including decreases of 5,900 MT), Japan (133,700 MT, including 114,900 MT switched from unknown destinations and decreases of 200 MT), Costa Rica (98,900 MT), Guatemala (55,000 MT, including 6,100 MT switched from El Salvador and decreases of 1,400 MT), and El Salvador (32,300 MT, including 3,000 MT switched from Nicaragua and decreases of 400 MT).  Reductions were primarily for unknown destinations (59,100 MT).  For 2019/2020, total net sales of 64,900 MT were for Mexico.  Exports of 457,300 MT were primarily to Mexico (237,200 MT), Japan (142,200 MT), Canada (26,100 MT), Guatemala (15,000 MT), and Honduras (13,100 MT).

Optional Origin Sales:  For 2019/2020, new optional origin sales of 65,000 MT were reported for South Korea.  The current outstanding balance of 635,000 MT is for South Korea (455,000 MT), Israel (120,000 MT), and China (60,000 MT).

Barley:  No net sales for 2019/2020 were reported for the week.  Exports of 200 MT–a marketing-year low–were down 85 percent from the previous week and 74 percent from the prior 4-week average.  The destinations were Japan (100 MT) and South Korea (100 MT).

Sorghum:  Net sales of 2,000 MT for 2019/2020 reported for unknown destinations, were partially offset by reductions for Mexico (100 MT).  Exports of 3,000 MT were to Mexico.