Market Perspectives – March 11, 2021

U.S. Export Statistics

Corn:  Net sales of 395,500 MT for 2020/2021 were up noticeably from the previous week, but down 48 percent from the prior 4-week average.  Increases primarily for Taiwan (135,200 MT, including 56,000 MT switched from Japan and 65,000 MT late), South Korea (127,600 MT, including 68,000 MT switched from unknown destinations and decreases of 6,400 MT), Mexico (108,000 MT), Vietnam (63,700 MT, including 66,000 MT switched from unknown destinations and decreases of 2,300 MT), and Kuwait (41,100 MT, switched from unknown destinations), were offset by reductions primarily for unknown destinations (180,900 MT).  For 2021/2022, net sales of 287,300 MT were reported for Japan (175,200 MT) and Mexico (112,100 MT).

Exports of 1,592,900 MT were down 21 percent from the previous week, but up 4 percent from the prior 4-week average.  The destinations were primarily to China (348,400 MT), Japan (276,300 MT), Mexico (202,100 MT), Egypt (140,800 MT), and South Korea (127,900 MT).

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 1,174,400 MT is for South Korea (793,000 MT), unknown destinations (244,000 MT), Taiwan (70,000 MT), China (65,000 MT), and Ukraine (2,400 MT).

Late Reporting:  For 2020/2021, net sales totaling 131,000 MT were reported late for Japan (66,000 MT) and Taiwan (65,000 MT).

Barley:  For 2020/2021, net sales of 1,100 MT were for Canada (900 MT) and South Korea (200 MT).  Exports of 200 MT were primarily to South Korea.

Sorghum:  For 2020/2021, net sales of 60,300 MT were primarily for China (60,200 MT, including decreases of 100 MT).  For 2021/2022, total net sales of 53,000 MT were for China.  Exports of 59,200 MT were down 18 percent from the previous week and 28 percent from the prior 4-week average.  The destination was China.