Market Perspectives – July 21, 2022

U.S. Export Statistics

Corn:  Net sales of 33,900 MT for 2021/2022 were down 43 percent from the previous week and 82 percent from the prior 4-week average.  Increases primarily for Japan (87,300 MT, including 87,700 MT switched from unknown destinations and decreases of 2,600 MT), Mexico (38,800 MT, including decreases of 1,900 MT), Venezuela (10,200 MT switched from unknown destinations), El Salvador (2,000 MT), and South Korea (1,400 MT, including decreases of 1,000 MT), were offset by reductions primarily for unknown destinations (94,600 MT).  Net sales of 570,200 MT for 2022/2023 primarily for unknown destinations (162,700 MT), Mexico (158,700 MT), Japan (85,100 MT), China (66,500 MT), and Honduras (49,900 MT), were offset by reductions for Canada (2,500 MT).

Exports of 1,109,100 MT were up 21 percent from the previous week and 2 percent from the prior 4-week average.  The destinations were primarily to China (455,700 MT), Mexico (307,100 MT), Japan (228,200 MT), Canada (44,800 MT), and Costa Rica (30,600 MT).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 108,300 MT is for unknown destinations (65,000 MT), Italy (34,300 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 35,400 MT is for Italy.

Barley:  No net sales or exports were reported for the week.

Sorghum:  Net sales of 5,900 MT for 2021/2022 were down noticeably from the previous week and down 84 percent from the prior 4-week average.  Increases were reported for Eritrea (2,400 MT), China (2,100 MT), and Mexico (1,400 MT, including decreases of 300 MT).  Exports of 108,200 MT were down 42 percent from the previous week and 10 percent from the prior 4-week average.  The destinations were to China (72,400 MT), Eritrea (32,400 MT), and Mexico (3,400 MT).