Market Perspectives – December 16, 2021

U.S. Export Statistics

Corn:  Net sales of 1,948,700 MT for 2021/2022–a marketing-year high–were up 72 percent from the previous week and 74 percent from the prior 4-week average.  Increases were primarily for Mexico (1,289,100 MT, including decreases of 8,500 MT), Canada (272,600 MT, including decreases of 500 MT), unknown destinations (141,900 MT), Japan (55,700 MT, including 60,700 MT switched from unknown destinations and decreases of 66,700 MT), and Venezuela (47,300 MT, including 7,300 MT switched from unknown destinations).  Total net sales of 754,400 MT for 2022/2023 were for Mexico.

Exports of 1,093,500 MT were up 21 percent from the previous week and 11 percent from the prior 4-week average.  The destinations were primarily to Mexico (317,000 MT, including 28,300 MT – late), China (274,800 MT), Japan (192,700 MT), Canada (158,600 MT), and Colombia (131,400 MT).

Optional Origin Sales:  For 2021/2022, new optional origin sales of 1,400 MT were reported for Italy.  The current outstanding balance of 500,100 MT is for unknown destinations (429,000 MT), Italy (62,100 MT), and Saudi Arabia (9,000 MT).

Late Reporting: For 2021/2022, exports totaling 28,300 MT of corn were reported late to Mexico.

Barley:  No net sales were reported for the week. Exports of 900 MT were up 72 percent from the previous week and up noticeably from the prior 4-week average.  The destination was to Japan.

Sorghum:  Net sales of 331,900 MT for 2021/2022–a marketing-year high–were up 5 percent from the previous week and 24 percent from the prior 4-week average.   Increases reported for China (385,900 MT, including 117,900 MT switched from unknown destinations), were offset by reductions for unknown destinations (54,000 MT).  Exports of 118,200 MT were down 33 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were to China (117,900 MT), and Mexico (300 MT).