Market Perspectives – May 27, 2021

U.S. Export Statistics

Corn:  Net sales of 555,900 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (378,200 MT, including decreases of 2,100 MT), China (168,000 MT, including 66,000 MT switched from unknown destinations), South Korea (64,500 MT, including 65,000 MT switched from unknown destinations and decreases of 3,100 MT), Panama (23,700 MT, including 6,500 MT switched from Colombia (2,900 MT, switched from El Salvador and decreases of 8,200 MT), and Honduras (6,500 MT), were offset by reductions primarily for unknown destinations (70,500 MT).  For 2021/2022, net sales of 5,691,300 MT primarily for China (5,644,000 MT), Panama (131,900 MT), Japan (50,000 MT), Costa Rica (32,000 MT), and unknown destinations (9,000 MT), were offset by reductions for Mexico (178,000 MT).

Exports of 1,850,000 MT were down 17 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to China (847,000 MT), Mexico (379,000 MT), Colombia (200,700 MT), Japan (200,000 MT), and South Korea (61,500 MT).

Optional Origin Sales:  For 2020/2021, decreases totaling 59,000 MT were reported for unknown destinations.  The current outstanding balance of 209,500 MT is for unknown destinations (130,500 MT) and South Korea (79,000 MT).  For 2021/2022, new optional origin sales totaling 60,000 MT were to unknown destinations.  The current outstanding balance of 60,000 MT is for unknown destinations.

Barley:  Total net sales of 400 MT for 2020/2021 were for South Korea.  Exports of 400 MT were down 41 percent and 21 percent from the prior 4-week average.  The destination was to South Korea.

Sorghum:  Net sales reduction of 81,000 MT for 2020/2021–marketing-year low–resulting in increases for Eritrea (30,100 MT) and unknown destinations (100 MT), were more than offset by reductions for China (111,200 MT).  For 2021/2022, net sales of 166,000 MT were for China (113,000 MT) and unknown destinations (53,000 MT).  Exports of 193,500 MT were up noticeably from the previous week and up 17 percent from the prior 4-week average.  The destinations were primarily to China (133,200 MT), Eritrea (30,100 MT), and unknown destinations (30,100 MT).