Market Perspectives – May 6, 2021

U.S. Export Statistics

Corn:  Net sales of 137,400 MT for 2020/2021 were down 74 percent from the previous week and 72 percent from the prior 4-week average.  Increases primarily for Japan (206,800 MT, including 109,600 MT switched from unknown destinations and decreases of 1,800 MT), Mexico (141,600 MT, including decreases of 9,400 MT), South Korea (121,700 MT, including 65,000 MT switched from unknown destinations and decreases of 12,800 MT), Colombia (118,600 MT, including 100,000 MT switched from unknown destinations and decreases of 37,800 MT), and China (83,100 MT, including 64,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (559,100 MT).  For 2021/2022, net sales of 106,200 MT were reported for unknown destinations (50,800 MT), Japan (32,500 MT), and Mexico (22,900 MT).

Exports of 2,195,100 MT were up 15 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were primarily to China (698,100 MT), Japan (448,600 MT), Mexico (293,100 MT), South Korea (255,900 MT), and Colombia (136,600 MT).

Optional Origin Sales:  For 2020/2021, options were exercised to export 8,900 MT to China from other than the United States.  The current outstanding balance of 268,500 MT is for unknown destinations (189,500 MT) and South Korea (79,000 MT).

Barley:  Net sales of 1,000 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for South Korea (600 MT) and Canada (400 MT).  Exports of 400 MT were down 3 percent from the previous week and 17 percent from the prior 4-week average.  The destinations were to South Korea (200 MT), Taiwan (100 MT), and Canada (100 MT).

Sorghum:  Total net sales of 200 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average.  Increases were for China, including decreases of 6,000 MT.  For 2021/2022, total net sales of 55,000 MT were for China.  Exports of 175,900 MT were down 27 percent from the previous week and 54 percent from the prior 4-week average.  The destination was to China.