Market Perspectives – July 9, 2020

U.S. Export Statistics

Corn:  Net sales of 599,200 MT for 2019/2020 were up 66 percent from the previous week and 30 percent from the prior 4-week average.  Increases primarily for China (407,200 MT), Colombia (102,500 MT, including 42,400 MT switched from unknown destinations and decreases of 5,600 MT), Mexico (90,600 MT, including 8,000 MT switched from unknown destinations and decreases of 7,000 MT), Honduras (13,000 MT), and Nicaragua (12,800 MT), were offset by reductions primarily for unknown destinations (48,100 MT) and Japan (6,600 MT).  For 2020/2021, net sales of 409,300 MT were primarily for Mexico (121,900 MT), unknown destinations (70,100 MT), Honduras (54,300 MT), Panama (39,000 MT), and Nicaragua (35,800 MT).

Exports of 1,084,300 MT were down 25 percent from the previous week and 11 percent from the prior 4-week average.  The destinations were primarily to Mexico (358,500 MT), Japan (286,900 MT), Colombia (142,200 MT), the Dominican Republic (70,500 MT), and China (66,500 MT).

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 325,000 MT is for South Korea (195,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, the current outstanding balance of 195,000 MT is for Vietnam.

Barley: No net sales for 2020/2021 were reported. Exports of 200 MT were to South Korea.

Sorghum:  Net sales of 53,900 MT for 2019/2020 were down 63 percent from the previous week, but up 3 from the prior 4-week average.  Increases were reported for China (50,900 MT, including 50,000 MT switched from unknown destinations) and unknown destinations (3,000 MT).  For 2020/2021, net sales of 137,000 MT were reported for unknown destinations (98,000 MT) and Japan (39,000 MT).  Exports of 51,100 MT were down 61 percent from the previous week and 70 percent from the prior 4-week average. The destination was China.