Market Perspectives – November 4, 2021

U.S. Export Statistics

Corn:  Net sales of 1,223,800 MT for 2021/2022 were up 37 percent from the previous week and 10 percent from the prior 4-week average.  Increases primarily for Mexico (666,300 MT, including decreases of 18,300 MT), Japan (114,900 MT, including 50,900 MT switched from unknown destinations and decreases of 15,500 MT), Guatemala (105,400 MT), Colombia (77,500 MT, including 50,000 MT switched from unknown destinations), and Saudi Arabia (74,000 MT), were offset by reductions for unknown destinations (12,900 MT) and Panama (1,800 MT).

Exports of 748,500 MT were up 9 percent from the previous week, but down 17 percent from the prior 4-week average.  The destinations were primarily to Mexico (317,300 MT), Japan (162,900 MT), Colombia (136,200 MT), Venezuela (43,600 MT), and Nicaragua (26,300 MT).

Optional Origin Sales:  For 2021/2022, new optional origin sales of 29,000 MT were reported for Italy (20,000 MT) and unknown destinations (9,000 MT).  The current outstanding balance of 508,300 MT is for unknown destinations (379,000 MT), South Korea (65,000 MT), Italy (55,300 MT), and Saudi Arabia (9,000 MT).

Barley:  No net sales were reported for the week.  Exports of 100 MT were down 92 percent from the previous week and 90 percent from the prior 4-week average.  The destination was to Taiwan.

Sorghum:  Net sales of 265,600MT for 2021/2022 resulting in increases for China (268,500 MT) and Japan (100 MT), were offset by reductions for unknown destinations (3,000 MT).  Exports of 3,700 MT were up 77 percent from the previous week, but down 90 percent from the prior 4-week average.  The destination was primarily to China (2,300 MT).