Market Perspectives – August 8, 2024

U.S. Export Statistics

Corn

Net sales of 485,400 MT for 2023/2024 were up noticeably from the previous week and up 32 percent from the prior 4-week average. Increases primarily for Mexico (309,400 MT, including decreases of 17,200 MT), Spain (143,300 MT), Colombia (48,700 MT, including decreases of 40,900 MT), Japan (40,100 MT, including 91,000 MT switched from unknown destinations and decreases of 10,600 MT), and Malaysia (16,100 MT), were offset by reductions for unknown destinations (89,200 MT), El Salvador (15,000 MT), Honduras (4,400 MT), the Dominican Republic (4,000 MT), and Panama (100 MT). Net sales of 249,100 MT for 2024/2025 primarily for unknown destinations (127,100 MT), Panama (99,100 MT), Colombia (55,000 MT), Honduras (26,300 MT), and Nicaragua (13,900 MT), were offset by reductions for Mexico (68,000 MT), the Dominican Republic (24,500 MT), and Costa Rica (2,400 MT). Exports of 1,303,300 MT were up 26 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Japan (469,800 MT), Mexico (320,500 MT), Colombia (202,400 MT), Spain (117,300 MT), and Honduras (57,200 MT).

Barley

Total net sales of 800 MT for 2024/2025 were for South Korea. No exports were reported for the week.

Sorghum

Total net sales of 54,500 MT for 2023/2024 were down 67 percent from the previous week and 36 percent from the prior 4-week average. Increases were for China, including decreases of 7,000 MT. Net sales of 93,000 MT for 2024/2025 were reported for China (63,000 MT) and Eritrea (30,000 MT). Exports of 166,200 MT were up noticeably from the previous week and from the prior 4-week average. The destination was China.