Market Perspectives – August 27, 2020

U.S. Export Statistics

Corn:  Net sales of 270,400 MT for 2019/2020 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Japan (97,900 MT, including decreases of 7,700 MT), Taiwan (91,200 MT), Mexico (62,300 MT, including decreases of 11,100 MT), Colombia (45,800 MT, including 65,000 MT switched from unknown destinations and decreases of 27,700 MT), and China (19,400 MT), were offset by reductions primarily for unknown destinations (64,500 MT).

For 2020/2021, net sales of 1,180,500 MT primarily for China (666,000 MT), Mexico (233,000 MT), unknown destinations (156,200 MT), Japan (50,000 MT), and Guatemala (20,300 MT), were offset by reductions for Canada (4,600 MT).

Exports of 939,100 MT were down 22 percent from the previous week and 10 percent from the prior 4-week average.  The destinations were primarily to Mexico (255,300 MT), Japan (227,600 MT), Colombia (219,100 MT), China (135,400 MT), and Canada (33,300 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 390,000 MT is for South Korea (260,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, the current outstanding balance of 260,000 MT is for Vietnam (195,000 MT) and South Korea (65,000 MT).

Barley:  No net sales for 2020/2021 were reported for the week.  Exports of 300 MT were down 25 percent from the previous week and 83 percent from the prior 4-week average.  The destination was Japan.

Sorghum:  Net sales reductions of 3,900 MT for 2019/2020 were down 16 percent from the previous week and down noticeably from the prior 4-week average.  Increases reported for China (56,100 MT, including 60,000 MT switched from unknown destinations and decreases of 3,900 MT), were offset by reductions for unknown destinations (60,000 MT).  For 2020/2021, net sales of 312,500 MT were reported for China (177,000 MT) and unknown destinations (135,500 MT).  Exports of 56,100 MT were up 16 percent from the previous week, but down 71 percent from the prior 4-week average.  The destination was China.