Market Perspectives – August 5, 2021

U.S. Export Statistics

Corn:  Net sales of 68,200 MT for 2020/2021 were down noticeably from the previous week, but up noticeably from the prior 4-week average.  Increases primarily for Mexico (205,400 MT, including decreases of 38,100 MT), Canada (65,200 MT, including decreases of 2,300 MT), Japan (31,600 MT, including 47,100 switched from unknown destinations and decreases of 17,100 MT), Guatemala (22,000 MT, including 21,200 MT switched from Nicaragua and decreases of 700 MT), and Taiwan (3,500 MT), were offset by reductions primarily for China (112,500 MT), unknown destinations (47,100 MT), Nicaragua (46,900 MT), Costa Rica (30,100 MT), and Panama (20,700 MT).  For 2021/2022, net sales of 830,200 MT primarily for Mexico (238,800 MT), Japan (210,700 MT), unknown destinations (101,700 MT), Colombia (96,300 MT), and Nicaragua (82,500 MT), were offset by reductions for El Salvador (800 MT).

Exports of 1,410,700 MT were up 4 percent from the previous week and 20 percent from the prior 4-week average.  The destinations were primarily to China (909,500 MT), Mexico (266,100 MT), Honduras (68,600 MT), Japan (64,100 MT), and Costa Rica (29,700 MT).

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 30,500 MT is for unknown destinations.  For 2021/2022, decreases of 10,000 MT were reported for unknown destinations.  The current outstanding balance of 50,000 MT is for unknown destinations.

Barley:  No net sales were reported for the week.  Exports of 300 MT were down 35 percent from the previous week, but up 11 percent from the prior 4-week average.  The destination was to South Korea.

Sorghum:  Net sales of 2,700 MT for 2020/2021 resulting in increases for Mexico (4,000 MT), were offset by reductions for China (1,300 MT).  Exports of 52,800 MT were down 24 percent from the previous week, but up 6 percent from the prior 4-week average.  The destination was primarily to China (51,700 MT).