Market Perspectives – January 14, 2021

U.S. Export Statistics

Corn:  Net sales of 1,437,700 MT for 2020/2021 were up 92 percent from the previous week and 34 percent from the prior 4-week average.  Increases primarily for Japan (401,500 MT, including 66,400 MT switched from unknown destinations), unknown destinations (334,500 MT), Colombia (125,900 MT, including 40,000 MT switched from unknown destinations and decreases of 84,100 MT), Mexico (124,100 MT, including decreases of 200 MT), and China (88,500 MT, including 70,000 MT switched from unknown destinations and decreases of 1,100 MT), were offset by reductions for El Salvador (24,000 MT).

Exports of 1,464,300 MT were up 43 percent from the previous week and 41 percent from the prior 4-week average.  The destinations were primarily to China (555,500 MT), Mexico (300,300 MT), Japan (168,400 MT), Colombia (89,700 MT), and Peru (75,400 MT).

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 1,351,400 MT is for South Korea (838,000 MT), unknown destinations (224,000 MT), Taiwan (140,000 MT), China (65,000 MT), Japan (52,000 MT), and Ukraine (32,400 MT).

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

Sorghum:  Net sales of 190,900 MT for 2020/2021 were up noticeably from the previous week and up 76 percent from the prior 4-week average.  Increases were reported for unknown destinations (120,000 MT) and China (70,900 MT, including 68,000 MT switched from unknown destinations and decreases of 55,000 MT).

Exports of 74,300 MT were down 13 percent from the previous week and 58 percent from the prior 4-week average.  The destination was primarily to China.