Market Perspectives – August 1, 2024

U.S. Export Statistics

Corn

Net sales of 167,900 MT for 2023/2024–a marketing-year low–were down 49 percent from the previous week and 60 percent from the prior 4-week average. Increases primarily for Mexico (94,900 MT, including 30,000 MT switched from unknown destinations and decreases of 5,800 MT), South Korea (68,700 MT, including 60,000 MT switched from unknown destinations), Japan (63,900 MT, including 60,000 MT switched from unknown destinations and decreases of 2,900 MT), the United Kingdom (55,000 MT, including 50,000 MT switched from unknown destinations), and Costa Rica (32,300 MT, including 4,000 MT switched from Panama and decreases of 400 MT), were offset by reductions primarily for unknown destinations (134,000 MT), Panama (23,000 MT), El Salvador (11,400 MT), Nicaragua (7,500 MT), and Colombia (4,700 MT). Net sales of 710,900 MT for 2024/2025 were primarily for Mexico (218,300 MT), unknown destinations (213,700 MT), Colombia (69,000 MT), Japan (55,000 MT), and Ireland (40,000 MT). Exports of 1,035,100 MT were down 14 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to Mexico (376,700 MT), Japan (313,800 MT), South Korea (138,100 MT), the United Kingdom (55,000 MT), and Colombia (37,700 MT).

Barley

No net sales for 2023/2024 were reported for the week. Export of 500 MT were to Japan.

Sorghum

Total net sales of 163,400 MT for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases were for China, including decreases of 1,600 MT. Exports of 59,200 MT were down 12 percent from the previous week and 1 percent from the prior 4-week average. The destination was China.