Market Perspectives – June 17, 2021

U.S. Export Statistics

Corn:  Net sales of 18,000 MT for 2020/2021 were down 91 percent from the previous week and 95 percent from the prior 4-week average.  Increases primarily for Japan (69,900 MT, including 138,200 MT switched from unknown destinations and decreases of 70,500 MT), Saudi Arabia (57,500 MT), Colombia (44,000 MT, including 40,000 MT switched from unknown destinations), Mexico (35,700 MT, including decreases of 7,300 MT), and Nicaragua (31,400 MT, including 20,900 MT switched from El Salvador, 7,500 MT switched from Guatemala, and decreases of 4,500 MT), were offset by reductions primarily for unknown destinations (152,200 MT) and Costa Rica (96,700 MT).  For 2021/2022, net sales of 276,100 MT were primarily for Mexico (100,000 MT), Costa Rica (97,400 MT), Guatemala (42,200 MT), Taiwan (21,500 MT), and Jamaica (6,900 MT).

Exports of 1,661,600 MT were up 1 percent from the previous week, but down and 16 percent from the prior 4-week average.  The destinations were primarily to China (615,000 MT), Japan (550,300 MT), Mexico (348,100 MT), Colombia (44,000 MT), and Morocco (34,400 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:  No net sales or exports were reported for the week.

Sorghum:  Net sales reduction of 5,000 MT for 2020/2021 resulting in increases for China (63,000 MT, including 68,000 MT switched from unknown destinations and decreases of 5,000 MT), were more than offset by reductions for unknown destinations (68,000 MT).  Exports of 116,000 MT were up noticeably from the previous week, but down 10 percent from the prior 4-week average.  The destination was China.