Market Perspectives – January 6, 2022

U.S. Export Statistics

Corn:  Net sales of 256,100 MT for 2021/2022 were down 80 percent from the previous week and 81 percent from the prior 4-week average.  Increases primarily for Canada (150,500 MT, including decreases of 10,700 MT), Mexico (115,100 MT, including decreases of 25,600 MT), Colombia (90,500 MT, including 92,000 MT switched from unknown destinations and decreases of 12,600 MT), Japan (81,500 MT, including 175,200 MT switched from unknown destinations and decreases of 56,500 MT), and Guatemala (10,500 MT), were offset by reductions primarily for unknown destinations (212,500 MT).

Exports of 985,100 MT were up 7 percent from the previous week, but down 2 percent from the prior 4-week average.  The destinations were primarily to Japan (221,100 MT), Mexico (210,500 MT), Colombia (179,500 MT), China (135,100 MT), and Canada (113,400 MT).

Optional Origin Sales:  For 2021/2022, options were exercised to export 60,000 MT to unknown destinations from other than the United States.  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:  Total net sales of 22,800 MT for 2021/2022 were down 88 percent from the previous week and 93 percent from the prior 4-week average.  The destination was China.  Exports of 74,400 MT were down 57 percent from the previous week and 62 percent from the prior 4-week average.  The destination was to China (74,300 MT).