Market Perspectives – July 30, 2020

U.S. Export Statistics

Corn:  Net sales reductions of 29,300 MT for 2019/2020–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for Colombia (41,800 MT, including decreases of 3,200 MT), unknown destinations (27,600 MT), Japan (13,100 MT, including decreases of 2,500 MT), Taiwan (13,000 MT), and Guatemala (11,400 MT, including 4,000 MT switched from Costa Rica, 4,000 MT switched from El Salvador, and 2,000 MT switched from Nicaragua), were offset by reductions primarily for Canada (53,700 MT), Mexico (44,100 MT), Panama (22,100 MT), and El Salvador (14,300 MT).  For 2020/2021, net sales of 638,700 MT primarily for unknown destinations (245,900 MT), Mexico (112,000 MT), Japan (100,000 MT), Canada (75,700 MT), and Honduras (32,000 MT), were offset by reductions for Colombia (4,000 MT).

Exports of 971,200 MT were down 8 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to Mexico (360,800 MT), Japan (355,100 MT), China (67,900 MT), Guatemala (66,500 MT), and Colombia (58,800 MT).

Optional Origin Sales:  For 2019/2020, new exports for own account totaling 65,000 MT were to South Korea.  The current outstanding balance of 455,000 MT is for South Korea (325,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, the current outstanding balance of 260,000 MT is for Vietnam (195,000 MT) and South Korea (65,000 MT).

Barley:  No net sales for 2020/2021 were reported for the week.  Exports of 300 MT were to South Korea.

Sorghum:  Net sales of 4,300 MT for 2019/2020 were down 95 percent from the previous week and from the prior 4-week average.  Increases reported for China (71,400 MT, including 68,000 MT switched from unknown destinations) and Japan (900 MT), were offset by reductions for unknown destinations (68,000 MT).  For 2020/2021, net sales of 163,000 MT were for unknown destinations (98,000 MT) and China (65,000 MT).  Exports of 82,600 MT were down 33 percent from the previous week and 12 percent from the prior 4-week average.  The destinations were to China (71,700 MT) and Japan (10,900 MT).