Market Perspectives – February 4, 2021

U.S. Export Statistics

Corn:  Net sales of 7,436,500 MT for 2020/2021–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (5,860,400 MT, including decreases of 100 MT), Japan (502,900 MT, including 4,500 MT switched from unknown destinations and decreases of 7,100 MT), Mexico (403,700 MT, including decreases of 17,600 MT), unknown destinations (402,900 MT), and South Korea (66,000 MT), were offset by reductions for Ecuador (1,400 MT), Costa Rica (600 MT), and Malaysia (100 MT).  For 2021/2022, total net sales of 83,800 MT were reported for Japan.

Exports of 995,500 MT were down 30 percent from the previous week and 17 percent from the prior 4-week average.  The destinations were primarily to Japan (253,600 MT), China (209,500 MT), Mexico (190,900 MT), Colombia (108,800 MT), and Chile (45,300 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 50,000 MT were reported for unknown destinations.  The current outstanding balance of 1,319,400 MT is for South Korea (838,000 MT), unknown destinations (274,000 MT), Taiwan (140,000 MT), China (65,000 MT), and Ukraine (2,400 MT).

Barley:  No net sales were reported for 2020/2021.  For 2021/2022, total net sales of 2,000 MT were reported for Japan.  Exports of 1,500 MT were to Japan (1,300 MT) and Taiwan (200 MT).

Sorghum:  Net sales of 63,700 MT for 2020/2021 were down 66 percent from the previous week and 62 from the prior 4-week average.  Increases reported for China (199,500 MT, including 136,000 MT switched from unknown destinations and decreases of 57,900 MT) and Mexico (200 MT), were offset by reductions for unknown destinations (136,000 MT).  For 2021/2022, total net sales of 53,000 MT were for unknown destinations.

Exports of 309,800 MT were up noticeably from the previous week and from the prior 4-week average.  The destination was China.