Market Perspectives – July 22, 2021

U.S. Export Statistics

Corn: Net sales reductions of 88,500 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Japan (57,300 MT, including 43,700 MT switched from unknown destinations and 12,000 MT – late), Panama (20,700 MT), Colombia (10,800 MT, including decreases of 200 MT), Nicaragua (7,500 MT, switched from Honduras), and Canada (6,700 MT), were more than offset by reductions primarily for China (160,000 MT). For 2021/2022, net sales of 47,700 MT were primarily for Japan (18,000 MT), Honduras (9,100 MT), Mexico (9,000 MT), Nicaragua (7,500 MT), and El Salvador (1,300 MT).

Exports of 1,003,500 MT were down 6 percent from the previous week and 22 percent from the prior 4-week average. The destinations were primarily to China (526,000 MT), Mexico (235,900 MT), Japan (95,400 MT, including 12,000 MT – late), Venezuela (47,100 MT), and Nicaragua (27,400 MT).

Optional Origin Sales: For 2020/2021, the current outstanding balance of 30,500 MT is for unknown destinations. For 2021/2022, the current outstanding balance of 60,000 MT is for unknown destinations.

Late Reporting: For 2020/2021, net sales and exports totaling 12,000 MT of corn were reported late to Japan.

Barley: No net sales were reported for the week. Exports of 200 MT for 2021/2022 were unchanged from the previous week, but down 25 percent from the prior 4-week average. The destination was to Canada.

Sorghum: Net sales reductions of 52,200 MT for 2020/2021 resulting in increases for Mexico (900 MT) and Japan (100 MT), were more than offset by reductions for China (53,200 MT). Exports of 59,000 MT were down 17 percent from the previous week, but up noticeably from the prior 4-week average. The destinations were to China (58,800 MT) and Mexico (200 MT).