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Market Perspectives – September 27, 2018

Contents

  1. Chicago Board of Trade Market News
  2. CBOT December Corn Futures
  3. U.S. Weather/Crop Progress
  4. U.S. Export Statistics
  5. FOB
  6. Distiller's Dried Grains with Solubles (DDGS)
  7. Country News
  8. Ocean Freight Markets and Spread
  9. Ocean Freight Comments
  10. Interest Rates

U.S. Export Statistics

Corn: Net sales of 1,712,800 MT for 2018/2019 were reported for Mexico (623,200 MT, including decreases of 4,100 MT), Guatemala (161,400 MT), Japan (124,500 MT, including 124,000 MT switched from unknown destinations and decreases of 70,400 MT), Egypt (110,500 MT, including 55,000 MT switched from unknown destinations), and Peru (92,900 MT, including 21,500 MT switched from unknown destinations and decreases of 1,000 MT). Reductions were reported for Vietnam (60,000 MT), Nicaragua (6,800 MT), and Jamaica (1,500 MT). For 2019/2020, net sales reductions of 9,700 MT were reported for Mexico. Exports of 1,358,800 MT were primarily to Mexico (342,700 MT), Japan (272,500 MT), Egypt (163,500 MT), Taiwan (139,300 MT), and South Korea (129,700 MT). 

Optional Origin Sales: For 2018/2019, new optional origin sales of 68,000 MT were reported for South Korea. The current outstanding balance of 1,157,000 MT is for South Korea (549,000 MT), unknown destinations (353,000 MT), Vietnam (130,000 MT), Saudi Arabia (70,000 MT), and Malaysia (55,000 MT). 

Barley: Net sales of 2,100 MT for 2018/2019 were for South Korea (1,600 MT) and Taiwan (500 MT). Exports 900 MT were primarily to Japan. 

Sorghum: No net sales were reported for the week. Exports of 1,300 MT were reported to Mexico.