Market Perspectives – April 27, 2023

U.S. Export Statistics

Corn:  Net sales of 400,000 MT for 2022/2023 were up 28 percent from the previous week, but down 49 percent from the prior 4-week average. Increases primarily for Japan (177,200 MT, including 111,500 MT switched from unknown destinations and decreases of 900 MT), Mexico (141,200 MT, including 26,000 MT switched from unknown destinations and decreases of 10,400 MT), Colombia (110,400 MT, including 89,700 MT switched from unknown destinations and decreases of 36,200 MT), Peru (77,500 MT, including 26,000 MT switched from unknown destinations and decreases of 400 MT), and Venezuela (13,000 MT), were offset by reductions for China (64,300 MT), unknown destinations (54,700 MT), and El Salvador (48,600 MT).

Exports of 1,076,300 MT were down 17 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to Japan (342,600 MT), Mexico (256,900 MT), China (141,700 MT), Colombia (90,700 MT), and Peru (72,100 MT).

Barley:  Total net sales of 500 MT for 2022/2023 were for South Korea. No exports were reported for the week.

Sorghum:  Total net sales reductions of 1,000 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Decreases were for China. Exports of 55,900 MT were down 5 percent from the previous week and 22 percent from the prior 4-week average. The destination was to China.