Market Perspectives – August 3, 2023

U.S. Export Statistics

Corn:  Net sales of 107,500 MT for 2022/2023 were down 66 percent from the previous week and from the prior 4-week average. Increases primarily for Japan (140,000 MT, including 93,100 MT switched from unknown destinations, decreases of 8,100 MT, and 49,000 MT – late), Egypt (38,000 MT), Jamaica (19,600 MT), Mexico (17,600 MT, including decreases of 70,700 MT), and Nicaragua (15,600 MT, including 7,500 MT switched from El Salvador and 7,500 MT switched from Honduras), were offset by reductions primarily for unknown destinations (106,700 MT), Canada (21,000 MT), Israel (9,000 MT), Honduras (8,000 MT), and the Dominican Republic (2,600 MT). Net sales of 348,900 MT for 2023/2024 were primarily for Honduras (79,600 MT), Mexico (67,400 MT), Canada (65,800 MT), Japan (56,000 MT), and unknown destinations (52,300 MT).

Exports of 626,200 MT were up 52 percent from the previous week and 26 percent from the prior 4-week average. The destinations were primarily to Mexico (371,300 MT), Japan (142,000 MT, including 49,000 MT – late), Canada (25,800 MT), Nicaragua (15,600 MT), and Honduras (15,300 MT).

Late Reporting:  For 2022/2023, net sales and exports totaling 48,950 MT of corn were reported late. The destination was Japan.

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

Sorghum:  Net sales of 140,900 MT for 2022/2023 were up noticeably from the previous week and up 6 percent from the prior 4-week average. Increases were reported for unknown destinations (136,000 MT) and China (4,900 MT). Exports of 70,400 MT were down 58 percent from the previous week and 26 percent from the prior 4-week average. The destination was to China.