Market Perspectives – December 30, 2021

U.S. Export Statistics

Corn:  Net sales of 1,246,500 MT for 2021/2022 were up 27 percent from the previous week, but down 2 percent from the prior 4-week average.  Increases were primarily for Japan (385,800 MT, including 160,900 MT switched from unknown destinations and decreases of 2,000 MT), Canada (200,100 MT, including decreases of 200 MT), unknown destinations (163,800 MT), Mexico (149,100 MT, including and decreases of 11,900 MT), and Guatemala (94,600 MT).  Total net sales of 60,000 MT for 2022/2023 were for Japan.  Exports of 921,400 MT were down 16 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Mexico (278,300 MT), China (277,000 MT), Japan (189,800 MT), Canada (64,000 MT), and Costa Rica (27,600 MT).

Optional Origin Sales:  For 2021/2022, options were exercised to export to unknown destinations (60,000 MT) from the United States.  The current outstanding balance of 441,000 MT is for unknown destinations (369,000 MT), Italy (63,000 MT), and Saudi Arabia (9,000 MT).

Barley:  No net sales were reported for the week.  Exports of 700 MT were down 16 percent from the previous week and 10 percent from the prior 4-week average.  The destination was to Japan.

Sorghum:  Net sales of 182,900 MT for 2021/2022 were down 57 percent from the previous week and 46 percent from the prior 4-week average.  Increases were reported for China (124,900 MT, including decreases of 208,500 MT) and unknown destinations (58,000 MT).  Exports of 174,100 MT were down 45 percent from the previous week and 13 percent from the prior 4-week average.  The destination was primarily to China (173,900 MT).