Market Perspectives – October 22, 2020

U.S. Export Statistics

Corn:  Net sales of 1,831,600 MT for 2020/2021 were up noticeably from the previous week and up 21 percent from the prior 4-week average.  Increases primarily for Japan (490,100 MT, including 162,800 MT switched from unknown destinations and decreases of 10,000 MT), China (433,500 MT), Mexico (377,400 MT, including decreases of 35,400 MT), Taiwan (179,800 MT), and Israel (157,500 MT), were offset by reductions for unknown destinations (55,500 MT).  Exports of 898,000 MT were up 10 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to China (364,000 MT), Mexico (168,300 MT), Japan (165,900 MT), Saudi Arabia (70,200 MT), and Colombia (55,000 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 30,000 MT were reported for Ukraine.  The current outstanding balance of 834,800 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), Argentina (127,000 MT), Ukraine (125,000 MT), South Korea (65,000 MT), and unknown destinations (53,600 MT).

Late Reporting:  For 2020/2021, exports totaling 7,100 MT were reported late.  The destination was Jamaica.

Barley:  No net sales were reported for the week.  Exports of 200 MT were to South Korea.

Sorghum:  Net sales of 280,800 MT for 2020/2021 resulted in increases for China (195,800 MT) and unknown destinations (85,000 MT).  Exports of 70,100 MT were to China.