Market Perspectives – December 10, 2020

U.S. Export Statistics

Corn:  Net sales of 1,362,200 MT for 2020/2021 were down 1 percent from the previous week, but up 7 percent from the prior 4-week average.  Increases primarily for unknown destinations (422,200 MT), Mexico (408,100 MT, including decreases of 21,800 MT), China (141,200 MT), Chile (90,000 MT), and South Korea (66,600 MT), were offset by reductions primarily for El Salvador (15,800 MT).

Exports of 715,000 MT were down 33 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were primarily to China (271,300 MT), Mexico (261,200 MT), Saudi Arabia (71,500 MT), Costa Rica (58,900 MT), and Taiwan (21,900 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 65,000 MT were reported for South Korea.  The current outstanding balance of 1,548,400 MT is for South Korea (834,000 MT), unknown destinations (224,000 MT), Taiwan (205,000 MT), Vietnam (130,000 MT), China (65,000 MT), Japan (58,000 MT), and Ukraine (32,400 MT).

Barley:  No net sales were reported for the week.  Exports of 1,500 MT were to Japan.

Sorghum:  Net sales of 123,000 MT for 2020/2021 were down 49 percent from the previous week and 45 percent from the prior 4-week average.  Increases were primarily for China (67,900 MT, including decreases of 100 MT) and unknown destinations (55,000 MT).  Exports of 1,900 MT were down 99 percent from the previous week and from the prior 4-week average.  The destination was China.