Market Perspectives – May 13, 2021

U.S. Export Statistics

Corn:  Net sales reductions of 113,400 MT for 2020/2021–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (168,700 MT, including decreases of 48,700 MT), South Korea (116,800 MT, including 68,000 MT switched from unknown destinations and decreases of 19,300 MT), Japan (81,400 MT, including 86,200 MT switched from unknown destinations and decreases of 61,400 MT), Colombia (46,000 MT, including 50,000 MT switched from unknown destinations and decreases of 4,000 MT), and Guatemala (41,000 MT, including 23,600 MT switched from El Salvador, 8,000 MT switched from Costa Rica, and 8,000 MT switched from Nicaragua), were more than offset by reductions primarily for China (334,300 MT) and unknown destinations (192,600 MT).

For 2021/2022, net sales of 2,083,600 MT were primarily for China (1,360,000 MT), unknown destinations (254,000 MT), Mexico (219,500 MT), Guatemala (84,600 MT), and Japan (71,000 MT).

Exports of 1,544,100 MT were down 30 percent from the previous week and 18 percent from the prior 4-week average.  The destinations were primarily to China (355,700 MT), Mexico (308,100 MT), Japan (286,800 MT), South Korea (247,800 MT), and Egypt (59,200 MT).

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 268,500 MT is for unknown destinations (189,500 MT) and South Korea (79,000 MT).

Barley:  Net sales reductions of 2,000 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average.  Reductions were reported for Japan (2,000 MT).  Total net sales for 2021/2022 of 2,000 MT were for Japan.  Exports of 400 MT were down 13 percent from the previous week and 23 percent from the prior 4-week average.  The destinations were primarily to Canada (200 MT).

Sorghum:  Net sales of 71,100 MT for 2020/2021 were up noticeably from the previous week, but down 63 percent from the prior 4-week average.  Increases reported for China (139,100 MT, including 68,000 MT switched from unknown destinations and decreases of 7,400 MT), were offset by reductions for unknown destinations (68,000 MT).  Exports of 183,800 MT were up 5 percent from the previous week, but down 52 percent from the prior 4-week average.  The destinations were to China (183,700 MT, including 58,700 MT – late) and Mexico (100 MT).

Late Reporting: For 2020/2021, exports totaling 58,700 MT of sorghum were reported late to China.