Market Perspectives – March 4, 2021

U.S. Export Statistics

Corn:  Net sales of 115,900 MT for 2020/2021–a marketing-year low–were down 74 percent from the previous week and 96 percent from the prior 4-week average.  Increases primarily for China (1,054,700 MT, including 1,046,000 MT switched from unknown destinations and decreases of 3,000 MT), Mexico (181,900 MT, including decreases of 1,100 MT), Saudi Arabia (129,300 MT, including 112,900 MT switched from unknown destinations), Japan (108,600 MT, including 118,800 MT switched from unknown destinations and decreases of 68,600 MT), and South Korea (107,800 MT, including 68,000 MT switched from unknown destinations and decreases of 15,400 MT), were offset by reductions primarily for unknown destinations (1,764,900 MT).  For 2021/2022, net sales of 38,800 MT were reported for Mexico (26,800 MT) and Japan (12,000 MT).

Exports of 2,010,200 MT–a marketing-year high–were up 69 percent from the previous week and 57 percent from the prior 4-week average.  The destinations were primarily to Japan (351,600 MT), China (346,700 MT), Mexico (261,100 MT), South Korea (173,700 MT), and Saudi Arabia (129,300 MT).

Optional Origin Sales:  For 2020/2021, decreases totaling 105,000 MT were reported for South Korea (55,000 MT) and unknown destinations (50,000 MT).  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).

Barley:  No net sales were reported for the week.  Exports of 400 MT were to Japan (300 MT) and Canada (100 MT).

Sorghum:  For 2020/2021, total net sales reductions of 52,200 MT were for China.  Exports of 72,400 MT were down 42 percent from the previous week and 49 percent from the prior 4-week average.  The destination was China.