Market Perspectives – March 25, 2021

U.S. Export Statistics

Corn:  Net sales of 4,481,900 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (3,890,600 MT), South Korea (353,300 MT, including 125,000 MT switched from unknown destinations, decreases of 31,000 MT, and 66,000 MT late), Mexico (196,000 MT, including 13,000 MT switched from unknown destinations and decreases of 29,600 MT), Colombia (131,100 MT, including 93,300 MT switched from unknown destinations and decreases of 9,500 MT), and Indonesia (75,000 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (461,800 MT).  For 2021/2022, net sales of 144,600 MT were reported for Mexico (90,000 MT), unknown destinations (50,000 MT), and Japan (4,600 MT).

Exports of 2,036,000 MT were down 7 percent from the previous week, but up 17 percent from the prior 4-week average.  The destinations were primarily to Mexico (470,200 MT), China (418,100 MT), South Korea (349,300 MT), Japan (197,300 MT), and Colombia (146,300 MT).

Optional Origin Sales:  For 2020/2021, options were exercised to export 189,000 MT to South Korea from the United States.  The current outstanding balance of 890,400 MT is for South Korea (549,000 MT), unknown destinations (244,000 MT), China (65,000 MT), and the Ukraine (32,400 MT).

Late Reporting:  For 2020/2021, net sales totaling 66,000 MT were reported late for South Korea.

Barley:  For 2020/2021, net sales reductions of 4,700 MT resulting in increases primarily for South Korea (1,000 MT), were offset set by reductions for Japan (5,700 MT).  For 2021/2022, total net sales of 5,700 MT were for Japan.  Export of 700 MT were primarily to Japan (300 MT) and Canada (300 MT).

Sorghum:  For 2020/2021, net sales of 60,800 MT were primarily for China (60,500 MT).  Exports of 71,000 MT were down 80 percent from the previous week and 53 percent from the prior 4-week average.  The destination was primarily to China.