Market Perspectives – August 24, 2023

U.S. Export Statistics

Corn:  Net sales reductions of 22,700 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Japan (43,100 MT, including 34,600 MT switched from unknown destinations), Mexico (14,700 MT, including decreases of 300 MT), Guatemala (6,200 MT, including 7,000 MT switched from El Salvador and decreases of 800 MT), China (1,600 MT), and Honduras (1,200 MT, including decreases of 12,000 MT), were more than offset by reductions for Colombia (55,000 MT), unknown destinations (29,800 MT), and El Salvador (7,000 MT). Net sales of 673,500 MT for 2023/2024 primarily for Mexico (351,400 MT), unknown destinations (128,000 MT), Colombia (120,000 MT), Egypt (30,000 MT), and Canada (21,900 MT), were offset by reductions for Jamaica (1,500 MT). Exports of 496,500 MT were up 12 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (244,000 MT), Japan (86,400 MT), China (69,600 MT), Honduras (46,500 MT), and Canada (22,600 MT).

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

Sorghum:  Net sales reductions of 68,600 MT for 2022/2023–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average. Decreases were reported for unknown destinations (68,000 MT) and China (600 MT). Net sales of 184,000 MT for 2023/2024 were reported for unknown destinations (126,000 MT) and China (58,000 MT). Exports of 54,900 MT were down 52 percent from the previous week and 43 percent from the prior 4-week average. The destination was to China.