Market Perspectives – April 20, 2023

U.S. Export Statistics

Corn:  Net sales of 312,400 MT for 2022/2023 were down 41 percent from the previous week and 79 percent from the prior 4-week average. Increases primarily for China (420,000 MT, including decreases of 17,400 MT), Saudi Arabia (73,200 MT, including 70,000 MT switched from unknown destinations), Colombia (71,500 MT, including 60,300 MT switched from unknown destinations), Iraq (44,100 MT, including 42,000 MT switched from unknown destinations), and Japan (35,500 MT, including 38,500 MT switched from unknown destinations and decreases of 9,100 MT), were offset by reductions for unknown destinations (291,800 MT), Mexico (121,200 MT), El Salvador (3,700 MT), Guatemala (1,900 MT), and Costa Rica (1,800 MT). Net sales of 422,000 MT for 2023/2024 were reported for China (272,000 MT) and Mexico (150,000 MT).

Exports of 1,298,500 MT were up 42 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Mexico (410,800 MT), Japan (267,600 MT), Colombia (122,400 MT), Peru (104,700 MT), and China (77,800 MT).

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

Sorghum:  Total net sales of 30,000 MT for 2022/2023 were down 54 percent from the previous week, but up 89 percent from the prior 4-week average, with unknown being the destination. Exports of 59,100 MT were up 13 percent from the previous week, but down 15 percent from the prior 4-week average. The destinations were to China (58,500 MT) and Mexico (600 MT).