Market Perspectives – August 22, 2024

U.S. Export Statistics

Corn

Net sales of 119,100 MT for 2023/2024 – a marketing-year low – were down 1 percent from the previous week and 57 percent from the prior 4-week average. Increases primarily for Japan (110,900 MT, including 163,900 MT switched from unknown destinations), South Korea (62,000 MT), Venezuela (31,600 MT, including 30,000 MT switched from unknown destinations), Mexico (22,600 MT, including decreases of 37,400 MT), and El Salvador (21,400 MT, including 7,500 MT switched from Guatemala, 7,500 MT switched from Nicaragua, and decreases of 600 MT), were offset by reductions primarily for unknown destinations (141,900 MT). Net sales of 1,291,200 MT for 2024/2025 were primarily for Mexico (873,400 MT), Guatemala (135,500 MT), Japan (93,000 MT), unknown destinations (89,300 MT), and Colombia (65,500 MT). Exports of 1,155,900 MT were up 12 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (576,600 MT), Japan (290,900 MT), Colombia (78,300 MT), Portugal (61,200 MT), and Honduras (56,000 MT).

Barley

No net sales or exports for 2024/2025 were reported for the week.

Sorghum

Total net sales of 6,900 MT for 2023/2024 were up 88 percent from the previous week, but down 88 percent from the prior 4-week average. The destination was China, including decreases of 900 MT. Total net sales of 65,000 MT for 2024/2025 were for China. Exports of 54,100 MT were down 8 percent from the previous week and 38 percent from the prior 4-week average. The destination was China.