Market Perspectives – April 29, 2021

U.S. Export Statistics

Corn:  Net sales of 521,300 MT for 2020/2021 were up 35 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases primarily for Mexico (296,900 MT, including decreases of 3,600 MT), South Korea (117,100 MT, including 133,000 MT switched from unknown destinations and decreases of 15,900 MT), Saudi Arabia (89,200 MT, including 80,500 MT switched from unknown destinations), Colombia (71,100 MT, including 41,000 MT switched from unknown destinations and decreases of 12,400 MT), and Egypt (58,200 MT, including 60,000 MT switched from unknown destinations and decreases of 1,800 MT), were offset by reductions primarily for unknown destinations (318,500 MT).  For 2021/2022, net sales of 553,400 MT were primarily for unknown destinations (361,400 MT), Guatemala (136,700 MT), Panama (20,400 MT), and Mexico (20,300 MT).

Exports of 1,915,200 MT were up 19 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to China (561,600 MT), Japan (399,500 MT), Mexico (287,400 MT), South Korea (183,800 MT), and Colombia (94,600 MT).

Optional Origin Sales:  For 2020/2021, options were exercised to export 166,400 MT to South Korea (134,000 MT) and the Ukraine (32,400 MT) from other than the United States.  The current outstanding balance of 277,400 MT is for unknown destinations (189,500 MT), South Korea (79,000 MT), and China (8,900 MT).

Barley:  Total net sales of 300 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases were for Taiwan.  Exports of 400 MT were down 20 percent from the previous week and 16 percent from the prior 4-week average.  The destinations were Taiwan (200 MT), Canada (100 MT), and Japan (100 MT).

Sorghum:  Net sales of 107,200 MT for 2020/2021 were up noticeably from the previous week, but down 45 percent from the prior 4-week average.  Increases reported for China (243,200 MT, including 136,000 MT switched from unknown destinations and decreases of 6,400 MT), were offset by reductions for unknown destinations (136,000 MT).  Exports of 241,200 MT were down 6 percent from the previous week and 39 percent from the prior 4-week average.  The destination was China.