Market Perspectives – December 2, 2021

U.S. Export Statistics

Corn:  Net sales of 1,020,800 MT for 2021/2022 were down 29 percent from the previous week and 12 percent from the prior 4-week average.  Increases primarily for Mexico (423,800 MT, including decreases of 10,200 MT), Canada (198,200 MT, including decreases of 1,100 MT), Japan (118,400 MT switched from unknown destinations), Colombia (88,900 MT, including 52,500 MT switched from unknown destinations and decreases of 53,500 MT), and Costa Rica (76,500 MT, including 9,300 MT switched from Guatemala and decreases of 4,100 MT), were offset by reductions for unknown destinations (4,200 MT).  Total net sales of 300 MT for 2022/2023 were for Costa Rica.

Exports of 938,400 MT were up 1 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Mexico (382,400 MT), China (138,000 MT), Japan (118,500 MT), Colombia (110,800 MT), and Canada (49,000 MT).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 498,700 MT is for unknown destinations (429,000 MT), Italy (60,700 MT), and Saudi Arabia (9,000 MT).

Barley:  No net sales were reported for the week.  Exports of 1,000 MT were unchanged the previous week, but up noticeably from the prior 4-week average. The destination was to Japan.

Sorghum:  Net sales of 284,700 MT for 2021/2022 resulting in increases for China (337,700 MT, including 118,300 MT switched from unknown destinations), were offset by reductions for unknown destinations (53,000 MT).  Exports of 186,900 MT were down 13 percent from the previous week, but up noticeably from the prior 4-week average.  The destinations were to China (186,700 MT) and Mexico (200 MT).