Market Perspectives – August 10, 2023

U.S. Export Statistics

Corn:  Net sales of 150,400 MT for 2022/2023 were up 40 percent from the previous week, but down 47 percent from the prior 4-week average. Increases primarily for Colombia (57,000 MT), Saudi Arabia (55,000 MT switched from unknown destinations), Mexico (46,800 MT, including decreases of 900 MT), Venezuela (17,000 MT), and Canada (13,200 MT, including decreases of 500 MT), were offset by reductions for unknown destinations (55,000 MT), Guatemala (1,100 MT), Thailand (1,000 MT), Costa Rica (400 MT), and El Salvador (100 MT). Net sales of 758,400 MT for 2023/2024 were primarily for Mexico (420,100 MT), unknown destinations (218,900 MT), Canada (55,100 MT), Jamaica (19,800 MT), and Taiwan (15,000 MT).

Exports of 478,400 MT were down 24 percent from the previous week, but unchanged from the prior 4-week average. The destinations were primarily to Mexico (281,900 MT), Japan (102,600 MT), Saudi Arabia (55,000 MT), Canada (11,600 MT), and Taiwan (11,400 MT).

Export Adjustments:  Accumulated exports of corn to Canada were adjusted down 2,276 MT for week ending July 20th. This shipment was reported in error.

Barley:  Total net sales reductions of 300 MT for 2022/2023 were for South Korea. No exports were reported for the week.

Sorghum:  Net sales reductions of 4,100 MT for 2022/2023–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average. Increases reported for the Republic of South Africa (30,900 MT switched from unknown destinations), were more than offset by reductions for unknown destinations (35,000 MT). Net sales of 68,000 MT for 2023/2024 were reported for unknown destinations (50,000 MT) and China (18,000 MT). Exports of 31,000 MT were down 56 percent from the previous week and 72 percent from the prior 4-week average. The primary destination was to the Republic of South Africa (30,900 MT).