Market Perspectives – April 8, 2021

U.S. Export Statistics

Corn:  Net sales of 757,000 MT for 2020/2021 were down 5 percent from the previous week and 54 percent from the prior 4-week average.  Increases primarily for Japan (285,300 MT, including 135,300 MT switched from unknown destinations and decreases of 2,900 MT), South Korea (247,600 MT, including decreases of 20,200 MT), Colombia (122,200 MT, including 50,000 MT switched from unknown destinations and decreases of 8,700 MT), China (99,000 MT, including  70,000 MT switched from unknown destinations), and Mexico (67,700 MT, including decreases of 10,000 MT), were offset by reductions primarily for unknown destinations (164,800 MT).  For 2021/2022, net sales of 50,000 MT reported for Mexico (90,000 MT) and Guatemala (10,000 MT), were offset by reductions for unknown destinations (50,000 MT).

Exports of 2,053,400 MT were up 4 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to China (578,500 MT), Mexico (473,600 MT), Japan (366,100 MT), South Korea (242,500 MT), and Colombia (120,400 MT).

Optional Origin Sales:  For 2020/2021, options were exercised to export 202,000 MT to South Korea from the United States.  Options were exercised to export 56,100 MT to China from other than the United States.  Decreases totaling 4,800 MT were reported for China.  The current outstanding balance of 567,800 MT is for South Korea (282,000 MT), unknown destinations (244,500 MT), the Ukraine (32,400 MT), and China (8,900 MT).

Barley:  Net sales of 200 MT for 2020/2021 were up 97 percent from the previous week, but down noticeably from the prior 4-week average.  Increases were for Taiwan (200 MT).  Exports of 500 MT were up 24 percent from the previous week and 52 percent from the prior 4-week average.  The destinations were primarily to Canada (300 MT) and Taiwan (200 MT).

Sorghum:  Net sales reductions of 500 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average.  Increases for China (54,500 MT, including decreases of 3,300 MT), were offset by reductions for unknown destinations (55,000 MT).  Exports of 165,700 MT were down 46 percent from the previous week and 16 percent from the prior 4-week average.  The destination was primarily to China (165,600 MT).