Market Perspectives – April 25, 2024

U.S. Export Statistics

Corn

Net sales of 1,299,900 MT for 2023/2024 were up noticeably from the previous week and up 74 percent from the prior 4-week average. Increases primarily for Mexico (390,500 MT, including decreases of 10,100 MT), South Korea (252,000 MT, including 65,000 MT switched from unknown destinations and decreases of 1,900 MT), Japan (233,200 MT, including 110,000 MT switched from unknown destinations and decreases of 4,200 MT), Saudi Arabia (142,400 MT), and Taiwan (140,700 MT, including 68,000 MT switched from unknown destinations and 65,000 MT switched from China), were offset by reductions for unknown destinations (219,400 MT) and China (4,700 MT). Net sales of 262,300 MT for 2024/2025 were reported for Mexico (254,000 MT), Japan (8,000 MT), and Honduras (300 MT). Exports of 1,709,200 MT – a marketing-year high – were up 11 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (596,800 MT), Japan (203,500 MT, including 52,600 MT – late), Colombia (141,000 MT), Taiwan (140,000 MT), and South Korea (131,500 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Net sales of 38,000 MT for 2023/2024 were down noticeably from the previous week, but up 64 percent from the prior 4-week average. Increases were reported for unknown destinations (30,000 MT) and China (8,000 MT, including decreases of 600 MT). Exports of 144,900 MT were up 90 percent from the previous week and 53 percent from the prior 4-week average. The destination was China.