Market Perspectives – February 16, 2023

U.S. Export Statistics

Corn:  Net sales of 1,024,500 MT for 2022/2023 were down 12 percent from the previous week and 15 percent from the prior 4-week average. Increases were primarily for Mexico (269,000 MT, including decreases of 21,800 MT), unknown destinations (247,300 MT), China (126,000 MT), Colombia (115,400 MT, including decreases of 1,500 MT), and Saudi Arabia (73,500 MT, including 70,000 MT switched from unknown destinations). Total net sales of 100,000 MT for 2023/2024 were for Mexico. Exports of 670,500 MT were up 70 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to Mexico (386,000 MT), Saudi Arabia (73,500 MT), Guatemala (41,000 MT), El Salvador (35,800 MT), and Japan (35,600 MT).

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 100,000 MT, all South Korea.

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

Sorghum:  Net sales of 113,000 MT for 2022/2023 were up noticeably from the previous week and up 7 percent from the prior 4-week average. The destination was for China. Exports of 1,000 MT were up noticeably from the previous week, but down 95 percent from the prior 4-week average. The destination was to Mexico.