Market Perspectives – October 28, 2021

U.S. Export Statistics

Corn:  Net sales of 890,400 MT for 2021/2022 were down 30 percent from the previous week and 10 percent from the prior 4-week average.  Increases primarily for Mexico (492,900 MT, including decreases of 14,600 MT), Japan (193,600 MT, including 22,700 MT switched from unknown destinations and decreases of 8,000 MT), Colombia (100,500 MT, including 50,000 MT switched from unknown destinations and decreases of 16,000 MT), unknown destinations (44,400 MT), and Panama (19,000 MT), were offset by reductions for China (1,200 MT) and South Korea (400 MT).

Exports of 688,500 MT were down 34 percent from the previous week and 24 percent from the prior 4-week average.  The destinations were primarily to Mexico (275,500 MT), Japan (148,800 MT), Colombia (144,100 MT), China (66,800 MT), and Costa Rica (38,000 MT).

Optional Origin Sales:  For 2021/2022, new optional origin sales of 139,500 MT were reported for unknown destinations (120,000 MT), Italy (10,500 MT), and Saudi Arabia (9,000 MT).  The current outstanding balance of 479,300 MT is for unknown destinations (370,000 MT), South Korea (65,000 MT), Italy (35,300 MT), and Saudi Arabia (9,000 MT).

Barley:  No net sales were reported for the week.  Exports of 800 MT were up 14 percent from the previous week and 93 percent from the prior 4-week average.  The destination was to Japan.

Sorghum:  Total net sales of 133,000 MT for 2021/2022 were down 49 percent from the previous week, but up 54 percent from the prior 4-week average.  The destination reported was unknown destinations.  Exports of 2,100 MT were down 95 percent from the previous week and 97 percent from the prior 4-week average.  The destination was to Mexico.