Market Perspectives – January 7, 2021

U.S. Export Statistics

Corn:  Net sales of 748,900 MT for 2020/2021 were down 22 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for Japan (174,500 MT, including 31,900 MT switched from unknown destinations and decreases of 2,000 MT), unknown destinations (153,000 MT), Mexico (101,300 MT, including 31,000 MT switched from unknown destinations and decreases of 69,500 MT), China (90,400 MT, including 70,000 MT switched from unknown destinations), and Peru (81,000 MT), were offset by reductions for Canada (2,200 MT).

Exports of 1,027,900 MT were down 23 percent from the previous week, but up 7 percent from the prior 4-week average.  The destinations were primarily to China (421,400 MT), Mexico (307,500 MT), Japan (112,600 MT), Colombia (102,300 MT), and Guatemala (28,200 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:  There were no new sales or exports reported this week.

Sorghum:  Net sales reductions of 300 MT for 2020/2021–a marketing-year low–were down noticeably from the previous week and the prior 4-week average.  Increases reported for China (29,700 MT, including 30,000 MT switched from unknown destinations and decreases of 4,000 MT), were offset by reductions for unknown destinations (30,000 MT).  For 2021/2022, net sales of 98,000 MT were for unknown destinations (68,000 MT) and China (30,000 MT).

Exports of 85,600 MT were down 47 percent from the previous week and 45 percent from the prior 4-week average.  The destination was China.