Market Perspectives – April 21, 2022

U.S. Export Statistics

Corn:  Net sales of 879,200 MT for 2021/2022 were down 34 percent from the previous week and 6 percent from the prior 4-week average.  Increases primarily for China (675,200 MT, including decreases of 5,600 MT), South Korea (126,200 MT, including 68,000 MT switched from unknown destinations and decreases of 6,800 MT), Mexico (75,500 MT, including decreases of 34,600 MT), Indonesia (67,200 MT, including 68,000 MT switched from unknown destinations and decreases of 800 MT), and Saudi Arabia (42,800 MT, including 40,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (234,000 MT).  Net sales of 389,600 MT for 2022/2023 were reported for China (340,000 MT), Colombia (40,000 MT), Mexico (5,100 MT), and Canada (4,500 MT).  Exports of 1,196,400 MT were down 23 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to China (402,400 MT), Mexico (275,900 MT), Japan (104,300 MT), Indonesia (67,200 MT), and South Korea (61,900 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, new optional origin sales of 52,000 MT were reported for Italy.  The current outstanding balance of 58,400 MT is for Italy.

Barley: No net sales or exports were reported for the week.

Sorghum:  Net sales reductions of 53,600 MT for 2021/2022–a marketing-year low–were down noticeably from the previous week, but up noticeably from the prior 4-week average.  Increases reported for China (11,400 MT, including decreases of 2,100 MT), were more than offset by reductions for unknown destinations (65,000 MT).  Exports of 280,800 MT were up 98 percent from the previous week and 15 percent from the prior 4-week average.  The destinations was China.