Market Perspectives – January 13, 2022

U.S. Export Statistics

Corn:  Net sales of 457,700 MT for 2021/2022 were up 79 percent from the previous week, but down 59 percent from the prior 4-week average.  Increases primarily for Mexico (278,800 MT, including decreases of 20,600 MT), Japan (233,000 MT, including 101,500 MT switched from unknown destinations), China (70,200 MT, including 68,000 MT switched from unknown destinations), Canada (27,000 MT, including decreases of 1,100 MT), and Nicaragua (16,900 MT), were offset by reductions primarily for unknown destinations (216,300 MT).  Exports of 1,011,800 MT were up 3 percent from the previous week, but down 1 percent from the prior 4-week average.  The destinations were primarily to Mexico (347,800 MT), China (274,700 MT), Japan (131,700 MT), Saudi Arabia (73,300 MT), and Costa Rica (49,300 MT).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 381,000 MT is for unknown destinations (309,000 MT), Italy (63,000 MT), and Saudi Arabia (9,000 MT).

Barley:  No net sales or exports were reported for the week.

Sorghum:  Net sales of 20,900 MT for 2021/2022 resulting in increases for China (143,900 MT, including 68,000 MT switched from unknown destinations and decreases of 500 MT), were offset by reductions for unknown destinations (123,000 MT).  Exports of 139,600 MT were up 88 percent from the previous week, but down 18 percent from the prior 4-week average.  The destinations were to China (139,300 MT) and Mexico (300 MT).