Market Perspectives – December 7, 2023

U.S. Export Statistics

Corn:  Net sales of 1,288,900 MT for 2023/2024 were down 33 percent from the previous week and 17 percent from the prior 4-week average. Increases primarily for Japan (443,400 MT, including 65,200 MT switched from unknown destinations and decreases of 2,300 MT), China (274,500 MT, including 272,000 MT switched from unknown destinations and decreases of 2,400 MT), Mexico (230,000 MT, including decreases of 900 MT), Panama (81,000 MT), and Colombia (78,200 MT, including decreases of 3,800 MT), were offset by reductions for Nicaragua (1,300 MT). Total net sales of 22,900 MT for 2024/2025 were for Mexico.

Exports of 1,086,100 MT–a marketing-year high–were up noticeably from the previous week and up 65 percent from the prior 4-week average. The destinations were primarily to Mexico (307,800 MT), China (276,600 MT), Colombia (181,000 MT), Japan (114,900 MT), and Taiwan (76,600 MT).

Barley:  Total net sales of 500 MT for 2023/2024 were for Taiwan. No exports were reported for the week.

Sorghum:  Net sales of 119,100 MT for 2023/2024 were down 36 percent from the previous week and 12 percent from the prior 4-week average. Increases were reported for China (107,100 MT, including decreases of 200 MT) and Japan (12,000 MT). Exports of 126,700 MT were down 55 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were to China (126,400 MT) and Mexico (300 MT).