Market Perspectives – July 16, 2020

U.S. Export Statistics

Corn:  Net sales of 981,100 MT for 2019/2020 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (768,300 MT), Colombia (109,800 MT), Peru (74,700 MT, including 68,400 MT switched from unknown destinations), Saudi Arabia (71,500 MT, including 65,000 MT switched from unknown destinations), and Japan (52,500 MT, including 42,300 MT switched from unknown destinations and decreases of 800 MT), were offset by reductions primarily for unknown destinations (145,700 MT), Nicaragua (14,000 MT), Guatemala (8,400 MT), Costa Rica (8,400 MT), and South Korea (2,200 MT).  For 2020/2021, net sales of 655,400 MT primarily for China (600,000 MT), Japan (54,000 MT), Guatemala (32,500 MT), Honduras (20,900 MT), and Costa Rica (8,000 MT), were offset by reductions for unknown destinations (62,000 MT).

Exports of 1,014,300 MT were down 7 percent from the previous week and 14 percent from the prior 4-week average.  The destinations were primarily to Mexico (275,400 MT), Japan (228,000 MT), China (119,700 MT), Peru (96,400 MT), and Saudi Arabia (71,500 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 325,000 MT is for South Korea (195,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, the current outstanding balance of 195,000 MT is for Vietnam.

Barley:  Net sales reductions of 3,000 MT for 2020/2021–a marketing-year low–were reported for Japan.  Exports of 300 MT were primarily to South Korea (200 MT) and Taiwan (100 MT).

Sorghum:  Net sales of 72,700 MT for 2019/2020 were up 35 percent from the previous week and 50 from the prior 4-week average.  Increases reported for China (135,100 MT, including 66,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (62,400 MT).  For 2020/2021, total net sales of 53,000 MT were for unknown destinations.  Exports of 70,600 MT were up 38 percent from the previous week, but down 44 percent from the prior 4-week average.  The destination was China.