Market Perspectives – April 18, 2024

U.S. Export Statistics

Corn

Net sales of 501,200 MT for 2023/2024 were up 54 percent from the previous week, but down 45 percent from the prior 4-week average. Increases primarily for Colombia (273,700 MT, including 177,500 MT switched from unknown destinations, decreases of 38,600 MT, and 23,000 MT – late), Mexico (87,700 MT, including decreases of 1,000 MT), China (71,500 MT including 65,000 MT switched from unknown destinations), Saudi Arabia (55,000 MT), and Japan (53,500 MT, including 115,000 MT switched from unknown destinations, 63,000 MT switched from South Korea, and decreases of 18,100 MT), were offset by reductions primarily for unknown destinations (78,300 MT) and South Korea (53,200 MT). Total net sales of 65,000 MT for 2024/2025 were for unknown destinations. Exports of 1,546,200 MT were down 7 percent from the previous week, but up 4 percent from the prior 4-week average. The destinations were primarily to Mexico (515,400 MT), Colombia (313,100 MT, including 107,500 MT – late), Japan (293,500 MT), South Korea (192,800 MT), and China (71,500 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Net sales reductions of 1,800 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Increases reported for Mexico (8,000 MT), were more than offset by reductions for China (9,800 MT). Exports of 76,200 MT were down 47 percent from the previous week and 38 percent from the prior 4-week average. The destination was China.