Market Perspectives – February 11, 2021

U.S. Export Statistics

Corn:  Net sales of 1,448,600 MT for 2020/2021 were down 81 percent from the previous week and 52 percent from the prior 4-week average.  Increases primarily for Japan (517,700 MT, including 54,700 MT switched from unknown destinations and decreases of 57,200 MT), Mexico (456,400 MT, including 61,000 MT switched from unknown destinations and decreases of 9,200 MT), Egypt (119,500 MT, including 60,000 MT switched from unknown destinations and decreases of 500 MT), Guatemala (72,200 MT), and Colombia (71,200 MT, including 55,000 MT switched from unknown destinations and decreases of 29,100 MT), were offset by reductions primarily for unknown destinations (127,100 MT).  For 2021/2022, net sales of 12,200 MT were primarily for Mexico (10,900 MT).  Exports of 1,565,700 MT–a marketing-year high–were up 57 percent from the previous week and 32 percent from the prior 4-week average.  The destinations were primarily to China (357,600 MT), Japan (314,000 MT), Mexico (288,000 MT), Colombia (129,600 MT), and Peru (78,400 MT).

Optional Origin Sales:  For 2020/2021, decreases totaling 100,000 MT were reported for Taiwan (70,000 MT) and unknown destinations (30,000 MT).  The current outstanding balance of 1,219,400 MT is for South Korea (838,000 MT), unknown destinations (244,000 MT), Taiwan (70,000 MT), China (65,000 MT), and Ukraine (2,400 MT).

Barley:  No net sales were reported for the week.  Exports of 300 MT were to Taiwan.

Sorghum:  Net sales of 110,000 MT for 2020/2021 were up 73 percent from the previous week, but down 40 percent from the prior 4-week average.  Increases were reported for China (110,000 MT, including decreases of 1,000 MT).  Exports of 54,900 MT were down 82 percent from the previous week and 70 percent from the prior 4-week average.  The destination was China.