Market Perspectives – April 13, 2023

U.S. Export Statistics

Corn:  Net sales of 527,700 MT for 2022/2023 were down 58 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Mexico (291,000 MT, including decreases of 500 MT), Japan (166,800 MT, including 111,300 MT switched from unknown destinations), China (140,800 MT, including 136,000 MT switched from unknown destinations and decreases of 1,100 MT), Colombia (45,100 MT, including 34,000 MT switched from Panama, 5,000 MT switched from Honduras, and decreases of 113,100 MT), and unknown destinations (24,300 MT), were offset by reductions for South Korea (130,000 MT), Panama (34,000 MT), El Salvador (13,500 MT), Qatar (8,100 MT), and the Dominican Republic (3,800 MT).

Exports of 917,000 MT were down 19 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to Mexico (279,700 MT), China (208,800 MT), Japan (161,800 MT), Colombia (159,200 MT), and the Dominican Republic (57,200 MT).

Optional Origin Sales:  For 2022/2023, decreases of 50,000 MT were reported for South Korea.

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

Sorghum:  Total net sales of 65,000 MT for 2022/2023 were unchanged from the previous  week, but down 11 percent from the prior 4-week average. The destination was China, including decreases of 1,000 MT. Exports of 52,400 MT were up noticeably from the previous week, but down 30 percent from the prior 4-week average. The destinations were to China (52,000 MT) and Mexico (400 MT).