Market Perspectives – December 21, 2023

U.S. Export Statistics

Corn:  Net sales of 1,013,100 MT for 2023/2024 were down 29 percent from the previous week and 33 percent from the prior 4-week average. Increases primarily for Mexico (346,500 MT, including decreases of 1,000 MT), Japan (312,000 MT, including 71,100 MT switched from unknown destinations and decreases of 1,600 MT), China (136,300 MT, including 136,000 MT switched from unknown destinations and decreases of 1,800 MT), Colombia (99,500 MT, including 85,200 MT switched from unknown destinations and decreases of 48,000 MT), and Taiwan (70,100 MT), were offset by reductions for unknown destinations (32,200 MT). Total net sales of 1,000 MT for 2024/2025 were for Colombia. Exports of 870,900 MT were up 2 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (355,000 MT), China (202,500 MT), Japan (184,600 MT), Colombia (61,800 MT), and El Salvador (20,100 MT).

Late Reporting:  For 2023/2024, new sales and exports totaling 1,773 MT of corn were reported late. The destination was Canada.

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

Sorghum:  Total net sales of 237,200 MT for 2023/2024 were up noticeably from the previous week and up 81 percent from the prior 4-week average. Increases were for China (237,200 MT, including decreases of 6,300 MT). Exports of 252,100 MT were down 26 percent from the previous week, but up 17 percent from the prior 4-week average. The destinations were to China (251,800 MT) and Mexico (300 MT).