Market Perspectives – August 11, 2022

U.S. Export Statistics

Corn:  Net sales of 191,800 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (135,100 MT, including decreases of 100 MT), Japan (62,300 MT, including 48,200 MT switched from unknown destinations), Honduras (26,300 MT, including decreases of 80,500 MT), Colombia (15,200 MT, including 14,500 MT switched from unknown destinations), and El Salvador (13,700 MT, including 8,000 MT switched from Guatemala, 5,600 MT switched from Costa Rica, and decreases of 800 MT), were offset by reductions primarily for unknown destinations (62,700 MT), Costa Rica (8,600 MT), and Guatemala (4,200 MT).  Net sales of 191,300 MT for 2022/2023 were reported for Italy (105,000 MT), Honduras (47,400 MT), Japan (26,000 MT), Jamaica (6,900 MT), and Mexico (6,000 MT).

Exports of 705,400 MT were down 31 percent from the previous week and 28 percent from the prior 4-week average.  The destinations were primarily to Mexico (225,300 MT), China (207,200 MT), Japan (146,000 MT), Canada (56,100 MT), and El Salvador (30,100 MT).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 121,000 MT is for unknown destinations (65,000 MT), Italy (47,000 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, new optional origin sales of 2,400 MT were reported for Italy.  The current outstanding balance of 48,200 MT is for Italy.

Barley:  No net sales were reported for the week.  Exports of 1,000 MT were up noticeably from the previous week and from the prior 4-week average.  The destination was to Japan.

Sorghum:  Total net sales reductions of 1,400 MT for 2021/2022 were down noticeably from the previous week and from the prior 4-week average.  The destination was China.  Total net sales of 68,000 MT for 2022/2023 were for unknown destinations.  Exports of 57,200 MT were down 23 percent from the previous week and 48 percent from the prior 4-week average.  The destination was primarily to China (52,400 MT).