Market Perspectives – December 3, 2020

U.S. Export Statistics

Corn:  Net sales of 1,371,400 MT for 2020/2021 were down 18 percent from the previous week and 14 percent from the prior 4-week average.  Increases primarily for Mexico (656,900 MT, including 30,000 MT switched from unknown destinations and decreases of 9,700 MT), unknown destinations (351,400 MT), China (154,800 MT), Japan (138,800 MT, including 32,100 MT switched from unknown destinations), and South Korea (62,600 MT), were offset by reductions primarily for Colombia (90,000 MT) and Guatemala (13,100 MT).  Exports of 1,072,300 MT–a marketing-year high–were up 23 percent from the previous week and 35 percent from the prior 4-week average.  The destinations were primarily to China (475,800 MT), Mexico (312,300 MT), Japan (82,300 MT), Guatemala (59,500 MT), and Honduras (49,700 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 60,000 MT were reported for unknown destinations.  Decreases totaling 31,300 MT were reported for Ukraine (27,700 MT) and unknown destinations (3,600 MT).  The current outstanding balance of 1,483,400 MT is for South Korea (769,000 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 or exports were reported for the week.

Sorghum:  Net sales of 238,600 MT for 2020/2021 were down 33 percent from the previous week and 6 percent from the prior 4-week average.  Increases primarily for China (276,600 MT, including 106,000 MT switched from unknown destinations and decreases of 77,600 MT), were offset by reductions for unknown destinations (38,000 MT).  Exports of 213,700 MT were up 77 percent from the previous week and 58 percent from the prior 4-week average.  The destination was China.