Market Perspectives – April 28, 2022

U.S. Export Statistics

Corn:  Net sales of 866,800 MT for 2021/2022 were down 1 percent from the previous week and 5 percent from the prior 4-week average.  Increases primarily for China (729,200 MT, including decreases of 5,800 MT), Mexico (144,900 MT, including 52,000 MT switched from unknown destinations and decreases of 59,300 MT), South Korea (125,100 MT, including 66,000 MT switched from unknown destinations and decreases of 6,000 MT), Spain (55,000 MT, including 50,000 MT switched from unknown destinations), and Japan (53,100 MT, including 205,000 MT switched from unknown destinations and decreases of 92,200 MT), were offset by reductions primarily for unknown destinations (376,700 MT).  Net sales of 843,400 MT for 2022/2023 were reported for China (612,000 MT), Mexico (190,800 MT), and Japan (40,600 MT).

Exports of 1,562,100 MT were up 31 percent from the previous week, but unchanged from the prior 4-week average.  The destinations were primarily to Japan (385,600 MT), Mexico (337,800 MT), China (266,200 MT), Colombia (73,900 MT), and South Korea (60,100 MT).

Optional Origin Sales:  For 2021/2022, new optional origin sales of 200 MT were reported for Morocco.  Options were exercised to export 90,200 MT to unknown destinations (60,000 MT) and Morocco (30,200 MT) from the United States.  Decreases totaling 65,000 MT were reported for unknown destinations.  The current outstanding balance of 378,300 MT is for unknown destinations (240,000 MT), South Korea (65,000 MT), Italy (34,300 MT), Morocco (30,000 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, decreases totaling 23,000 MT were reported for Italy.  The current outstanding balance of 35,400 MT is for Italy.

Barley: Total net sales reductions of 100 MT for 2021/2022 were unchanged from the previous week, but down 95 percent from the prior 4-week average.  The destination was South Korea.  No exports were reported for the week.

Sorghum:  Net sales of 12,500 MT for 2021/2022 were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (41,600 MT, including 30,000 MT switched from unknown destinations), Mexico (800 MT), and South Korea (200 MT), were offset by reductions for unknown destinations (30,000 MT) and Haiti (100 MT).

Exports of 168,000 MT were down 40 percent from the previous week and 33 percent from the prior 4-week average.  The destinations were to China (167,800 MT) and Haiti (200 MT).