Market Perspectives – April 23, 2020

U.S. Export Statistics

Corn:  Net sales of 726,700 MT for 2019/2020 were down 20 percent from the previous week and 49 percent from the prior 4-week average.  Increases primarily for Mexico (221,100 MT, including decreases of 17,100 MT), Colombia (123,500 MT, including 108,000 MT switched from unknown destinations and decreases of 400 MT), Taiwan (88,000 MT, including decreases of 100 MT), Vietnam (86,300 MT, including 56,300 MT switched from South Korea), and the Philippines (60,000 MT), were offset by reductions for unknown destinations (82,300 MT) and the Dominican Republic (1,100 MT).  For 2020/2021, net sales reductions of 55,900 MT were for unknown destinations (10,000 MT) and Canada (2,400 MT), were more than offset by reductions for Mexico (68,300 MT).

Exports of 830,800 MT were down 32 percent from the previous week and 28 percent from the prior 4-week average.  The destinations were primarily to Mexico (285,100 MT), Colombia (165,100 MT), South Korea (67,600 MT), Vietnam (56,300 MT), and Japan (51,600 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 711,000 MT is for South Korea (651,000 MT) and Israel (60,000 MT).

Barley: No net sales or exports for 2019/2020 were reported for the week.

Sorghum:  Net sales of 113,400 MT for 2019/2020 resulting in increases for unknown destinations (85,000 MT), China (71, 400 MT, including 66,000 MT switched from unknown destinations and decreases of 1,000 MT), and Japan (10,000 MT), were offset by reductions for South Korea (53,000 MT).  Exports of 132,900 MT were down 10 percent from the previous week, but up 28 percent from the prior 4-week average. The destinations were primarily to China (132,400 MT).