Market Perspectives – January 30, 2020

U.S. Export Statistics

Corn:  Net sales of 1,234,700 MT for 2019/2020 were up 23 percent from the prior week and 99 percent from the prior 4-week average.  Increases were primarily for unknown destinations (345,000 MT), Colombia (228,000 MT, including 110,000 MT switched from unknown destinations and decreases of 2,600 MT), Mexico (190,200 MT), Guatemala (106,300 MT, including decreases of 100 MT), and Japan (81,400 MT, including 39,400 MT switched from unknown destinations and decreases of 38,000 MT).  For 2020/2021, net sales of 143,600 MT were for Japan (113,900 MT) and Guatemala (29,700 MT).

Exports of 681,900 MT were up 74 percent from the previous week and 44 percent from the prior 4-week average.  The destinations were primarily to Mexico (277,600 MT), Colombia (242,300 MT), Japan (88,400 MT), Taiwan (21,300 MT), and Nicaragua (20,900 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 375,900 MT is for South Korea (267,000 MT), Egypt (58,900 MT), and Israel (50,000 MT).

Barley: Total net sales reductions of 11,000 MT for 2019/2020–a marketing-year low–were reported for Japan.  For 2020/2021, total net sales of 9,000 MT were for Japan.  Exports of 900 MT were up noticeably from the previous week and up 53 percent from the prior 4-week average.  The destinations were Japan (700 MT) and Taiwan (200 MT).

Sorghum:  Net sales reductions of 300 MT for 2019/2020 resulting in increases for China (122,300 MT, including 122,000 MT switched from unknown destinations), were more than offset by reductions for unknown destinations (122,000 MT) and Mexico (600 MT).  Exports of 147,400 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  The destinations were China (122,300 MT) and Mexico (25,100 MT).