Market Perspectives – April 4, 2024

U.S. Export Statistics

Corn

Net sales of 948,000 MT for 2023/2024 were down 21 percent from the previous week and from the prior 4-week average. Increases primarily for Japan (339,900 MT, including 110,000 MT switched from unknown destinations and decreases of 7,500 MT), Mexico (216,500 MT, including 30,000 MT switched from unknown destinations and decreases of 199,900 MT), Colombia (150,400 MT, including 50,000 MT switched from unknown destinations), South Korea (149,200 MT, including 21,000 MT switched from unknown destinations and decreases of 100 MT), and Taiwan (109,800 MT, including 70,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (258,400 MT) and Canada (65,900 MT). Total net sales of 11,400 MT for 2024/2025 were for Mexico. Exports of 1,641,400 MT–a marketing-year high–were up 33 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Mexico (450,200 MT), Japan (407,700 MT), Canada (154,200 MT, including 134,100 MT – late), Colombia (130,800 MT), and Honduras (97,000 MT).

Barley

No net sales for 2023/2024 were reported for the week. Exports of 100 MT were to South Korea.

Sorghum

Net sales of 11,400 MT for 2023/2024 were down 85 percent from the previous week and 74 percent from the prior 4-week average. The destination was China. Exports of 145,200 MT were up noticeably from the previous week and up 45 percent from the prior 4-week average. The destination was China.