Market Perspectives – July 28, 2022

U.S. Export Statistics

Corn:  Net sales of 150,300 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (70,000 MT, including decreases of 10,500 MT), Japan (41,700 MT, including 38,700 MT switched from unknown destinations), Colombia (15,500 MT, including 14,500 MT switched from unknown destinations and decreases of 1,100 MT), Guyana (10,400 MT switched from unknown destinations), and Guatemala (9,300 MT, including 3,100 MT switched from El Salvador), were offset by reductions primarily for El Salvador (3,400 MT), Canada (2,100 MT), Taiwan (100 MT), and South Korea (100 MT).  Net sales of 193,700 MT for 2022/2023 primarily for Mexico (107,300 MT), unknown destinations (59,600 MT), and Costa Rica (19,800 MT), were offset by reductions for Taiwan (300 MT) and Honduras (100 MT).

Exports of 867,900 MT were down 22 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were primarily to Mexico (396,000 MT), China (208,000 MT), Japan (72,300 MT), Guatemala (65,400 MT), and Colombia (47,500 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 3,400 MT for 2021/2022 were down 42 percent from the previous week and 78 percent from the prior 4-week average.  Increases were reported for Mexico (1,700 MT, including decreases of 300 MT) and China (1,700 MT).  Total net sales of 67,000 MT for 2022/2023 were for China.  Exports of 72,800 MT were down 33 percent from the previous week and 34 percent from the prior 4-week average.  The destination was primarily to China (70,000 MT).