By admin September 17, 2020
Corn: U.S. corn exports were up $1.6 billion (20 percent) from a year ago to $9.2 billion in 2020. Strong feed demand in China contributed to this sharp increase, as did China’s implementation of the Phase One Agreement. Exports to China totaled $1.2 billion, the largest since 2012. China became the third largest destination for U.S. corn in 2020 after Mexico and Japan. The top three markets accounted for 62 percent of total U.S. corn exports. The sum total of U.S. corn exports to Colombia, South Korea, and Guatemala, three U.S. free trade partners, was up $424 million over 2019.
Wheat: Wheat production in marketing year (MY) 2021-2022 is forecast at a record 20 million tons, and exports are projected at 13.5 million tons (including flour in its wheat equivalent), for Argentina.
Edible Oils: Indonesia extended its B30 mandate, which requires biodiesel to contain 30 percent palm oil-based fuel, to 2022. Palm oil exports for 2021/22 are forecast to increase 13 percent and soybean meal imports are estimated higher than previously expected.
Soybeans:
- Export sales of 136,000 metric tons of soybeans for delivery to China during the 2020/2021 marketing year; and
- Export sales of 123,000 metric tons of sorghum for delivery to China. Of the total, 60,000 metric tons is for delivery during the 2020/2021 marketing year and 63,000 metric tons is for delivery during the 2021/2022 marketing year.