Market Perspectives – September 3, 2020

U.S. Export Statistics

Corn:  Net sales of 95,800 MT for 2019/2020 were down 65 percent from the previous week and 53 percent from the prior 4-week average.  Increases primarily for China (72,100 MT, including 66,000 MT switched from Taiwan), Mexico (44,100 MT), Colombia (27,000 MT, including decreases of 400 MT), Japan (22,100 MT, switched from unknown destinations), and Trinidad (16,700 MT, late – see below), were offset by reductions for Taiwan (66,100 MT) and unknown destinations (26,900 MT).

For 2020/2021, net sales of 2,389,100 MT primarily for China (1,155,000 MT), unknown destinations (569,000 MT), Japan (343,600 MT), Guatemala (151,800 MT), and Costa Rica (47,900 MT), were offset by reductions for Peru (8,000 MT).

Exports of 464,200 MT were down 51 percent from the previous week and 55 percent from the prior 4-week average.  The destinations were primarily to Mexico (224,300 MT), China (137,200 MT), Jamaica (28,800 MT, including 13,900 MT late – see below), Japan (22,100 MT), and Trinidad (16,700 MT, late – see below).

Optional Origin Sales:  For 2019/2020, options were exercised to export 65,000 MT to South Korea from other than the United States.  The current outstanding balance of 325,000 MT is for South Korea (195,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, new optional origin sales of 140,000 MT were reported for Taiwan.  The current outstanding balance of 400,000 MT is for Vietnam (195,000 MT), Taiwan (140,000 MT), and South Korea (65,000 MT).

Late Reporting:  For 2019/2020, net sales totaling 16,700 MT were reported late.  These sales were reported for Trinidad.  For 2019/2020, exports totaling 30,600 MT were reported late.  The destination was Trinidad (16,700 MT) and Jamaica (13,900 MT).

Barley:  No net sales or exports for 2020/2021 were reported for the week.

Sorghum:  For 2019/2020, total net sales of 11,900 MT reported for China were down noticeably from the previous week and down 82 percent from the prior 4-week average.  For 2020/2021, total net sales of 126,500 MT were reported for China.  Exports of 133,100 MT were up noticeably from the previous week, but down 30 percent from the prior 4-week average.  The destination was China.