Market Perspectives – September 24, 2020

U.S. Export Statistics

Corn:  Net sales of 2,139,000 MT for 2020/2021 were primarily for China (566,400 MT), unknown destinations (371,500 MT), Japan (344,900 MT, including decreases of 30,000 MT), Mexico (281,800 MT, including decreases of 1,400 MT and 54,000 MT late – see below), and Colombia (178,800 MT, including 50,000 MT switched from unknown destinations and decreases of 20,500 MT), were offset by reductions for Trinidad (400 MT) and Panama (300 MT).  Exports of 845,200 MT were primarily to China (204,400 MT), Mexico (159,700 MT), Colombia (130,600 MT), Peru (84,400 MT), and South Korea (69,500 MT).

Optional Origin Sales:  For 2020/2021, new optional origin sales of 92,000 MT were for Argentina (62,000 MT) and Ukraine (30,000 MT).  The current outstanding balance of 686,200 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), South Korea (130,000 MT), Argentina (62,000 MT), and Ukraine (30,000 MT).

Late Reporting: For 2020/2021, net sales totaling 54,000 MT were reported late. These sales were reported for Mexico. For 2020/2021, exports totaling 24,500 MT were reported late. The destination was Panama.

Barley:  Net sales of 2,800 MT for 2020/2021–a marketing-year high–were reported for Taiwan (1,000 MT), Japan (900 MT), and South Korea (900 MT).  No exports were reported for 2020/2021.

Sorghum:  Net sales of 194,400 MT for 2020/2021 resulting in increases primarily for China (262,400 MT, including 68,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (68,000 MT).  Exports of 71,600 MT were primarily to China.