Market Perspectives – February 2, 2023

U.S. Export Statistics

Corn:  Net sales of 1,593,200 MT for 2022/2023 were up 75 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for unknown destinations (423,100 MT), Mexico (323,600 MT, including decreases of 78,000 MT), China (319,500 MT, including 136,000 MT switched from unknown destinations and 140,000 MT – late), Colombia (196,500 MT), and El Salvador (55,300 MT, including 34,800 MT switched from Guatemala and decreases of 2,800 MT), were offset by reductions for Guatemala (22,500 MT) and Canada (500 MT). Net sales of 163,200 MT for 2023/2024 were reported for Mexico (152,200 MT) and Japan (11,000 MT). Exports of 598,300 MT were down 34 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (227,900 MT), China (138,700 MT), Japan (102,000 MT), El Salvador (58,600 MT), and Panama (18,000 MT).

Late Reporting:  For 2022/2023, net sales totaling 140,000 MT of corn were reported late for China.

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

Sorghum:  Net sales of 110,500 MT for 2022/2023 were up 56 percent from the previous week and 70 percent from the prior 4-week average. Increases were reported for unknown destinations (57,500 MT) and China (53,000 MT). Exports of 900 MT were down 99 percent from the previous week and 95 percent from the prior 4-week average. The destination was to Mexico.