Market Perspectives – January 28, 2021

U.S. Export Statistics

Corn:  Net sales of 1,850,300 MT for 2020/2021 were up 29 percent from the previous week and 61 percent from the prior 4-week average.  Increases primarily for Japan (695,700 MT, including 232,100 MT switched from unknown destinations and decreases of 26,800 MT), Mexico (145,600 MT, including decreases of 1,000 MT), Colombia (116,900 MT, including 50,000 MT switched from unknown destinations and decreases of 23,600 MT), Israel (105,000 MT), and unknown destinations (91,300 MT), were offset by reductions for Guatemala (1,200 MT) and Chile (600 MT).

Exports of 1,414,000 MT were up 60 percent from the previous week and 20 percent from the prior 4-week average.  The destinations were primarily to Japan (518,000 MT), Mexico (233,700 MT), China (141,900 MT), Colombia (90,600 MT), and South Korea (71,500 MT).

Optional Origin Sales:  For 2020/2021, options were exercised to export 30,000 MT to Ukraine from other than the United States.  The current outstanding balance of 1,269,400 MT is for South Korea (838,000 MT), unknown destinations (224,000 MT), Taiwan (140,000 MT), China (65,000 MT), and Ukraine (2,400 MT).

Barley:  No net sales were reported for the week.  Exports of 400 MT were to Taiwan.

Sorghum:  Net sales of 185,000 MT for 2020/2021, resulting in increases for China (253,000 MT, including 68,000 MT switched from unknown destinations and decreases of 60,300 MT), were offset by reductions for unknown destinations (68,000 MT).  For 2021/2022, total net sales of 63,000 MT were for China.

Exports of 118,600 MT were down 46 percent from the previous week and 13 percent from the prior 4-week average.  The destination was China.