Market Perspectives – June 30, 2022

U.S. Export Statistics

Corn:  Net sales of 88,800 MT for 2021/2022–a marketing-year low–were down 87 percent from the previous week and 72 percent from the prior 4-week average.  Increases primarily for Japan (191,900 MT, including 220,600 MT switched from unknown destinations and decreases of 200 MT), South Korea (68,600 MT, including 68,000 MT switched from unknown destinations), Saudi Arabia (30,000 MT), Colombia (16,900 MT, including decreases of 4,200 MT), and El Salvador (15,000 MT), were offset by reductions primarily for unknown destinations (143,500 MT), Taiwan (61,100 MT), Mexico (33,200 MT), and Panama (22,900 MT).  Net sales of 119,300 MT for 2022/2023 were reported for Mexico (57,000 MT), Panama (48,300 MT), Barbados (8,000 MT), Taiwan (4,500 MT), and the Leeward and Windward Islands (1,500 MT).  Exports of 1,254,700 MT were up 9 percent from the previous week, but down 9 percent from the prior 4-week average.  The destinations were primarily to Japan (425,900 MT), Mexico (296,300 MT), China (207,700 MT), South Korea (69,800 MT), and Guatemala (66,800 MT).

Optional Origin Sales:  For 2021/2022, options were exercised to export 110,000 MT to unknown destinations from the United States.  The current outstanding balance of 108,300 MT is for unknown destinations (65,000 MT), Italy (34,300 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 35,400 MT is for Italy.

Barley:  Total net sales reductions of 1,700 MT for 2022/2023 were for South Korea.  Total exports of 700 MT were to Japan.

Sorghum:  Net sales of 3,600 MT for 2021/2022 were down 96 percent from the previous week and 90 percent from the prior 4-week average.  Increases were reported for China (2,100 MT) and Mexico (1,500 MT).  Exports of 74,000 MT were down 51 percent from the previous week and 54 percent from the prior 4-week average.  The destination was primarily to China (73,200 MT).