Market Perspectives – October 1, 2020

U.S. Export Statistics

Corn:  Net sales of 2,027,100 MT for 2020/2021 primarily for unknown destinations (701,300 MT), Mexico (441,200 MT, including decreases of 2,500 MT), Japan (381,600 MT, including 38,200 MT switched from unknown destinations and decreases of 36,400 MT), Guatemala (166,700 MT, including decreases of 4,400 MT), and China (149,900 MT), were offset by reductions for Peru (8,000 MT) and Costa Rica (4,000 MT).  Exports of 750,200 MT were primarily to China (269,900 MT), Mexico (230,100 MT), Japan (139,800 MT), South Korea (65,100 MT), and Canada (21,800 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 118,600 MT were for Argentina (65,000 MT) and unknown destinations (53,600 MT).  Options were exercised to export 65,000 MT to South Korea from other than the United States.  The current outstanding balance of 739,800 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), Argentina (127,000 MT), South Korea (65,000 MT), and Ukraine (30,000 MT).

Barley:  No net sales or exports were reported for the week.

Sorghum:  Net sales of 38,800 MT for 2020/2021 resulted in increases primarily for unknown destinations (35,600 MT) and China (3,200 MT).  For 2021/2022, total net sales of 136,000 MT were for unknown destinations.  Exports of 58,200 MT were to China.