Market Perspectives – June 4, 2020

U.S. Export Statistics

Corn:  Net sales of 637,500 MT for 2019/2020 were up 49 percent from the previous week, but down 19 percent from the prior 4-week average.  Increases primarily for Japan (248,900 MT, including 62,800 MT switched from unknown destinations and decreases of 49,800 MT), Colombia (214,700 MT, including 147,100 MT switched from unknown destinations, decreases of 400 MT, and late 12,000 MT – see below), South Korea (143,300 MT), Mexico (76,600 MT, including decreases of 13,000 MT), and Canada (21,600 MT, including decreases of 300 MT), were offset by reductions for unknown destinations (59,300 MT), Jamaica (54,500 MT), Guatemala (13,000 MT), and El Salvador (2,100 MT).  For 2020/2021, net sales of 27,500 MT were for unknown destinations (12,000 MT), Colombia (7,000 MT), El Salvador (5,200 MT), Canada (2,400 MT), and Guatemala (900 MT).

Exports of 1,346,800 MT were up 27 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Japan (447,900 MT), Mexico (233,300 MT), South Korea (206,800 MT), Colombia (190,700 MT, late 12,000 MT – see below), and Guatemala (60,800 MT).

Optional Origin Sales:  For 2019/2020, options were exercised to export 69,000 MT to South Korea from the United States.  The current outstanding balance of 643,000 MT is for South Korea (383,000 MT), Vietnam (195,000 MT), and Taiwan (65,000 MT).

Late Reporting:  For 2019/2020, net sales totaling 34,500 MT were reported late.  These sales were reported for Panama (15,000 MT), Colombia (12,000 MT), and Venezuela (7,500 MT).  For 2019/2020, exports totaling 34,500 MT were reported late.  The destinations were to Panama (15,000 MT), Colombia (12,000 MT), and Venezuela (7,500 MT).

Barley: No net sales for 2019/2020 were reported for the week.  For 2020/2021, total net sales of 500 MT were for Taiwan.  Exports of 500 MT were up 90 percent from the previous week and 12 percent from the prior 4-week average.  The destination was Japan.

Sorghum:  Net sales of 93,300 MT for 2019/2020 were down 48 percent from the previous week, but up 19 percent from the prior 4-week average.  Increases were for China (70,100 MT, including 68,000 MT switched from unknown destinations), unknown destinations (22,000 MT), and Japan (1,200 MT).  Exports of 94,700 MT were down 33 percent from the previous week and 37 percent from the prior 4-week average.  The destinations were primarily to China (72,900 MT) and Japan (21,200 MT).