Market Perspectives – June 10, 2021

U.S. Export Statistics

Corn:  Net sales of 189,600 MT for 2020/2021 were down 64 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for Japan (203,700 MT, including 199,900 MT switched from unknown destinations and decreases of 53,800 MT), China (66,200 MT, including decreases of 300 MT), Colombia (58,200 MT, including 50,000 MT switched from unknown destinations and decreases of 150,000 MT), Mexico (20,000 MT, including decreases of 1,300 MT), and El Salvador (19,300 MT, including 13,400 MT switched from Guatemala), were offset by reductions primarily for unknown destinations (195,700 MT).  For 2021/2022, net sales of 26,400 MT were for Costa Rica (16,300 MT), unknown destinations (7,600 MT), and Taiwan (2,500 MT).

Exports of 1,647,000 MT were down 23 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to China (542,500 MT), Mexico (368,000 MT), Japan (357,800 MT), Colombia (146,200 MT), and South Korea (116,200 MT).

Optional Origin Sales: For 2020/2021, options were exercised to export 50,000 MT to unknown destinations from the United States. 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:  No net sales were reported for the 2021/2022 marketing year, which began June 1.  A total of 2,600 MT in sales were carried over from the 2020/2021 marketing year, which ended May 31.  Accumulated exports were 26,800 MT, down 35 percent from the prior year’s total of 41,100 MT.  There were no exports for the period ending May 31 and no exports for the period ending June 1.

Sorghum:  Net sales reduction of 4,200 MT for 2020/2021 resulting in increases for China (50,800 MT, including 55,000 MT switched from unknown destinations and decreases of 4,200 MT), were more than offset by reductions for unknown destinations (55,000 MT).  Exports of 53,300 MT were down 77 percent from the previous week and 67 percent from the prior 4-week average.  The destinations were China (53,100 MT) and South Korea (200 MT).