Market Perspectives – August 17, 2023

U.S. Export Statistics

Corn:  Net sales of 233,500 MT for 2022/2023 were up 55 percent from the previous week and 16 percent from the prior 4-week average. Increases primarily for unknown destinations (100,000 MT), Mexico (81,600 MT, including decreases of 6,200 MT), Colombia (25,500 MT), Nicaragua (15,000 MT), and Honduras (7,800 MT, including decreases of 16,200 MT), were offset by reductions for Japan (2,100 MT), Guatemala (1,500 MT), Venezuela (900 MT), South Korea (700 MT), and Jamaica (100 MT). Net sales of 704,700 MT for 2023/2024 were primarily for Mexico (381,900 MT), unknown destinations (122,600 MT), Japan (101,700 MT), El Salvador (27,500 MT), and Costa Rica (15,000 MT).

Exports of 444,800 MT were down 7 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to Mexico (234,500 MT), China (70,000 MT), Japan (47,900 MT), Venezuela (42,100 MT), and Canada (36,500 MT).

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

Sorghum:  Total net sales of 41,100 MT for 2022/2023 were up noticeably from the previous week, but down 60 percent from the prior 4-week average. Increases were reported for China (41,100 MT, including decreases of 3,900 MT). Total net sales of 60,000 MT for 2023/2024 were reported for China. Exports of 113,100 MT were up noticeably from the previous week and up 11 percent from the prior 4-week average. The destination was to China.