Market Perspectives – August 6, 2020

U.S. Export Statistics

Corn:  Net sales of 101,600 MT for 2019/2020 were down noticeably from the previous week and down 70 percent from the prior 4-week average.  Increases primarily for Colombia (108,600 MT, including 49,500 MT switched from unknown destinations and decreases of 19,700 MT), Mexico (83,100 MT, including decreases of 1,500 MT), Japan (9,000 MT, including 46,600 MT switched from unknown destinations and decreases of 2,300 MT), Canada (7,200 MT, including decreases of 200 MT), and Jamaica (4,900 MT, including decreases of 2,000 MT), were offset by reductions for unknown destinations (102,700 MT), Honduras (7,800 MT), Venezuela (5,500 MT), Taiwan (4,500 MT), and Nicaragua (3,500 MT).  For 2020/2021, net sales of 2,600,000 MT primarily for China (1,937,000 MT), unknown destinations (276,000 MT), Mexico (252,500 MT), Colombia (84,000 MT), and Taiwan (18,500 MT) were offset by reductions for Japan (18,000 MT) and Nicaragua (8,500 MT).  Exports of 685,500 MT were down 29 percent from the previous week and 34 percent from the prior 4-week average.  The destinations were primarily to Japan (296,700 MT), Mexico (184,700 MT), Colombia (109,600 MT), Peru (38,200 MT), and El Salvador (26,600 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 455,000 MT is for South Korea (325,000 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:  Net sales of 600 MT for 2020/2021 were reported for Japan.  Exports of 300 MT were to South Korea

Sorghum:  Net sales reductions of 13,300 MT for 2019/2020 were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (107,100 MT, including 118,400 MT switched from unknown destinations and decreases of 13,900 MT) and Japan (100 MT), were offset by reductions for unknown destinations 120,500 MT).  For 2020/2021, net sales of 211,600 MT were for unknown destinations (136,000 MT) and China (75,600 MT).  Exports of 171,600 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were primarily to China (171,600 MT).