Market Perspectives – December 14, 2023

U.S. Export Statistics

Corn:  Net sales of 1,418,600 MT for 2023/2024 were up 10 percent from the previous week, but down 12 percent from the prior 4-week average. Increases primarily for Mexico (669,800 MT, including 34,000 MT switched from Colombia and decreases of 11,100 MT), unknown destinations (386,400 MT), China (143,300 MT, including 136,000 MT switched from unknown destinations), South Korea (65,400 MT), and Saudi Arabia (50,000 MT), were offset by reductions for El Salvador (19,100 MT) and Honduras (500 MT).

Exports of 851,000 MT were down 22 percent from the previous week, but up 18 percent from the prior 4-week average. The destinations were primarily to Mexico (374,600 MT), Colombia (159,200 MT), China (141,300 MT), Honduras (48,800 MT), and Canada (35,400 MT).

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

Sorghum:  Net sales of 78,100 MT for 2023/2024 were down 35 percent from the previous week and 40 percent from the prior 4-week average. Increases were primarily for Eritrea (63,000 MT – late) and China (15,000 MT). Total net sales of 60,000 MT for 2024/2025 were for China. Exports of 340,900 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to China (307,500 MT) and Eritrea (33,000 MT – late).