Market Perspectives – November 18, 2021

U.S. Export Statistics

Corn:  Net sales of 904,600 MT for 2021/2022 were down 15 percent from the previous week and 19 percent from the prior 4-week average.  Increases primarily for Canada (230,000 MT), Mexico (210,400 MT, including decreases of 6,300 MT), Japan (201,600 MT, including 110,800 MT switched from unknown destinations and decreases of 6,000 MT), Colombia (69,300 MT, including 50,900 MT switched from unknown destinations and decreases of 103,000 MT), and Guatemala (47,200 MT, including 18,700 MT switched from Nicaragua, 13,500 MT switched from Costa Rica, 7,500 MT switched from Honduras, and decreases of 9,100 MT), were offset by reductions for Nicaragua (16,000 MT) and Costa Rica (12,600 MT).  Total net sales of 140,000 MT for 2022/2023 were for Mexico.

Exports of 1,167,700 MT–a marketing-year high–were up 63 percent from the previous week and 46 percent from the prior 4-week average.  The destinations were primarily to Mexico (404,300 MT), Colombia (222,800 MT), Japan (154,200 MT), Canada (151,000 MT), and Guatemala (127,900 MT).

Optional Origin Sales:  For 2021/2022, new optional origin sales of 55,400 MT were reported for unknown destinations (50,000 MT) and Italy (5,400 MT).  The current outstanding balance of 498,700 MT is for unknown destinations (429,000 MT), Italy (60,700 MT), and Saudi Arabia (9,000 MT).

Barley:  Total net sales reductions of 100 MT for 2021/2022 were for South Korea.  Exports of 200 MT were unchanged from the previous week, but down 59 percent from the prior 4-week average.  The destination was to Taiwan.

Sorghum:  Net sales of 323,100 MT for 2021/2022–a marketing-year high–were up 24 percent from the previous week and 40 percent from the prior 4-week average.  Increases were reported for unknown destinations (195,000 MT), China (124,000 MT), and Mexico (4,100 MT).  Exports of 2,600 MT were down 97 percent from the previous week and 92 percent from the prior 4-week average.  The destinations were to China (2,200 MT) and Mexico (400 MT).