Corn Export Sales on Trajectory to hit USDA Target – 01/17/2022

US corn export sales (old and new crop) totaled 2.3 billion bushels as of 1/6/2022 which, based on historical experience,  is on course to meet the USDA’s 2021/2022 crop year forecast of 2.4 billion bushels. The historical experience (1991-2021) is illustrated by the accompanying scatter study.  

Corn crop problems in Brazil and Argentina suggest 2021/2022 US crop year corn exports could end up on the top side of the scatter study at 2.5 billion to 2.7 billion bushels. The relatively skimpy US corn carryout forecast  for the summer makes an extra 100 million  to 300 million bushels in crop year corn exports significant.