Market Perspectives – November 5, 2020

U.S. Export Statistics

Corn:  Net sales of 2,610,900 MT for 2020/2021 were up 16 percent from the previous week and 75 percent from the prior 4-week average.  Increases primarily for Mexico (1,062,600 MT, including 13,000 MT switched from unknown destinations and decreases of 5,300 MT), unknown destinations (781,600 MT), China (212,300 MT, including decreases of 1,400 MT), South Korea (132,700 MT), and Colombia (127,700 MT, including 49,000 MT switched from unknown destinations and decreases of 5,400 MT), were offset by reductions for Guatemala (800 MT).  For 2021/2022, total net sales of 541,000 MT were for Mexico.

Exports of 728,800 MT were down 1 percent from the previous week and 14 percent from the prior 4-week average.  The destinations were primarily to China (330,300 MT), Mexico (208,600 MT), Colombia (101,100 MT), Honduras (28,100 MT), and Japan (23,600 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 327,000 MT were reported for South Korea (262,000 MT) and Japan (65,000 MT).  Decreases totaling 30,000 MT were reported for Ukraine.  The current outstanding balance of 1,327,600 MT is for South Korea (382,000 MT), Vietnam (260,000 MT), Taiwan (205,000 MT), Japan (188,000 MT), unknown destinations (167,600 MT), and Ukraine (125,000 MT).

Late Reporting: For 2020/2021, exports totaling 7,200 MT were reported late. The destination was Jamaica.

Barley:  No net sales were reported for the week.  Exports of 500 MT were to Japan (300 MT) and Taiwan (200 MT).

Sorghum:  Net sales of 365,000 MT for 2020/2021 resulting in increases for China (340,500 MT, including 98,000 MT switched from unknown destinations and decreases of 3,900 MT) and unknown destinations (25,000 MT), were offset by reductions for Mexico (500 MT).  For 2021/2022, total net sales of 55,000 MT were for unknown destinations.  Exports of 94,900 MT were to China.