Market Perspectives – August 12, 2021

U.S. Export Statistics

Corn:  Net sales of 377,600 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (144,500 MT, including decreases of 38,500 MT), Japan (80,500 MT, including 81,700 MT switched from unknown destinations and decreases of 1,200 MT), Venezuela (59,200 MT, including 39,200 MT – late), Colombia (54,800 MT, including 21,000 MT switched from unknown destinations and 31,700 MT – late), and Canada (45,700 MT, including decreases of 8,900 MT), were offset by reductions primarily for unknown destinations (76,800 MT) and the Dominican Republic (7,500 MT).  For 2021/2022, net sales of 601,800 MT were primarily for unknown destinations (278,400 MT, including 20,400 MT – late), Colombia (80,500 MT), Costa Rica (60,800 MT), Mexico (52,200 MT), and Japan (45,000 MT).

Exports of 1,060,000 MT were down 25 percent from the previous week and 12 percent from the prior 4-week average.  The destinations were primarily to China (352,600 MT, including 71,500 MT – late), Mexico (337,300 MT, including 9,700 MT – late), Japan (80,500 MT), Saudi Arabia (57,900 MT), and Colombia (54,800 MT, including 31,700 MT – late).

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 30,500 MT is for unknown destinations.  For 2021/2022, the current outstanding balance of 50,000 MT is for unknown destinations.

Late Reporting: For 2020/2021, net sales totaling 222,300 MT of corn were reported late for China (71,500 MT), Venezuela (39,200 MT), Colombia (31,700 MT), unknown destinations (25,900 MT), Guyana (22,800 MT), Trinidad and Tobago (19,900 MT), Suriname (4,000 MT), Jamaica (3,300 MT), Haiti (2,100 MT), and Leeward and Windward Islands (1,900 MT).  For 2021/2022, net sales totaling 20,400 MT of corn were reported late for unknown destinations.  Exports totaling 206,200 MT of corn were reported late to China (71,500 MT), Venezuela (39,200 MT), Colombia (31,700 MT), Guyana (22,800 MT), Trinidad and Tobago (19,900 MT), Mexico (9,700 MT), Suriname (4,000 MT), Jamaica (3,300 MT), Haiti (2,100 MT), and Leeward and Windward Islands (1,900 MT).

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

Sorghum:  Net sales of 6,600 MT for 2020/2021 were reported for China (5,600 MT) and Mexico (1,000 MT).  Exports of 72,300 MT were up 37 percent from the previous week and 14 percent from the prior 4-week average.  The destination was primarily to China (70,600 MT).