Market Perspectives – December 17, 2020

U.S. Export Statistics

Corn:  Net sales of 1,924,500 MT for 2020/2021 were up 41 percent from the previous week and 40 percent from the prior 4-week average.  Increases primarily for Mexico (714,900 MT, including decreases of 3,100 MT), unknown destinations (402,300 MT), China (231,800 MT, including 70,000 MT switched from unknown destinations), Japan (176,700 MT, including 58,600 MT switched from unknown destinations), and Taiwan (125,000 MT), were offset by reductions for Guatemala (17,600 MT).  For 2021/2022, total net sales of 10,000 MT were for Japan.

Exports of 965,400 MT were up 35 percent from the previous week and 10 percent from the prior 4-week average.  The destinations were primarily to China (352,800 MT), Mexico (297,300 MT), Colombia (64,100 MT), Japan (59,200 MT), and Guatemala (56,300 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 99,000 MT were reported for South Korea (69,000 MT) and Ukraine (30,000 MT).  The current outstanding balance of 1,647,400 MT is for South Korea (903,000 MT), unknown destinations (224,000 MT), Taiwan (205,000 MT), Vietnam (130,000 MT), China (65,000 MT), Ukraine (62,400 MT), and Japan (58,000 MT).

Barley:  Net sales reductions of 12,300 MT–marketing-year low–resulting in increases for Taiwan (200 MT), were more than offset by reductions for Japan (12,500 MT).  For 2021/2022, total net sales of 12,500 MT were for Japan.  Exports of 600 MT were to Japan.

Sorghum:  Net sales of 325,400 MT for 2020/2021 were up noticeably from the previous week and up 56 percent from the prior 4-week average.  Increases reported for China (325,900 MT, including decreases of 61,500 MT and 70,700 late–see below) and Japan (5,100 MT, including 5,600 MT switched from unknown destinations and decreases of 500 MT), were offset by reductions for unknown destinations (5,600 MT).  For 2021/2022, total net sales of 68,000 MT were for unknown destinations.

Exports of 330,000 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  The destinations were to China (324,900 MT, including 70,700 late–see below) and Japan (5,100 MT).