Market Perspectives – July 29, 2021

U.S. Export Statistics

Corn:  Net sales reductions of 115,200 MT for 2020/2021–a marketing-year low–were up 30 percent from the previous week, but down noticeably from the prior 4-week average.  Increases primarily for Japan (36,300 MT, including 39,900 MT switched from unknown destinations and decreases of 16,100 MT), Venezuela (30,000 MT switched from unknown destinations), Barbados (6,300 MT), Canada (5,200 MT, including decreases of 700 MT), and Taiwan (2,500 MT), were more than offset by reductions primarily for China (119,300 MT) and unknown destinations (71,600 MT).  For 2021/2022, net sales of 529,300 MT were primarily for Mexico (172,000 MT), unknown destinations (150,000 MT), Colombia (129,100 MT), and Japan (50,000 MT).

Exports of 1,361,000 MT were up 36 percent from the previous week and 21 percent from the prior 4-week average.  The destinations were primarily to China (698,700 MT), Japan (308,500 MT), Mexico (256,900 MT), Venezuela (30,000 MT), and Jamaica (19,000 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.

Barley:  Total net sales reductions for 2021/2022 of 100 MT were for China.  Exports of 400 MT were up 62 percent from the previous week and up noticeably from the prior 4-week average.  The destinations were to China (200 MT) and Canada (200 MT).

Sorghum:  Net sales of 2,000 MT for 2020/2021 resulting in increases for China (69,000 MT, including 68,000 MT switched from unknown destination) and Mexico (1,000 MT), were offset by reductions for unknown destinations (68,000 MT).  Exports of 69,600 MT were up 18 percent from the previous week and up noticeably from the prior 4-week average.  The destination was primarily to China (69,000 MT).