Market Perspectives – April 14, 2022

U.S. Export Statistics

Corn:  Net sales of 1,332,900 MT for 2021/2022 were up 70 percent from the previous week and 26 percent from the prior 4-week average.  Increases primarily for China (671,500 MT, including decreases of 4,500 MT), Mexico (418,800 MT, including decreases of 33,300 MT), South Korea (151,000 MT, including 152,000 MT switched from unknown destinations and decreases of 3,400 MT), Colombia (108,500 MT, including 92,000 MT switched from unknown destinations and decreases of 1,400 MT), and Canada (43,100 MT, including decreases of 1,700 MT), were offset by reductions primarily for unknown destinations (226,200 MT).  Net sales of 403,100 MT for 2022/2023 resulting in increases of China (408,000 MT), were offset by Canada (4,900 MT).  Exports of 1,560,200 MT were down 5 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily to China (471,500 MT), Mexico (399,100 MT), Japan (153,700 MT), Colombia (133,600 MT), and Canada (121,000 MT).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 533,300 MT is for unknown destinations (365,000 MT), South Korea (65,000 MT), Morocco (60,000 MT), Italy (34,300 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 6,400 MT is for Italy.

Barley:  Total net sales of 100 MT for 2021/2022 were unchanged from the previous week, but down noticeably from the prior 4-week average.  The destination was South Korea.  No exports were reported for the week.

Sorghum:  Net sales of 8,500 MT for 2021/2022 were down noticeably from the previous week and down 55 percent from the prior 4-week average.  Increases reported for China (136,700 MT, including 133,000 MT switched from unknown destinations), Mexico (3,800 MT), and Haiti (1,000 MT), were offset by reductions for unknown destinations (133,000 MT).  Exports of 142,200 MT were down 40 percent from the previous week and 48 percent from the prior 4-week average.  The destinations were to China (142,100 MT) and Mexico (100 MT).