Market Perspectives – February 8, 2024

U.S. Export Statistics

Corn

Net sales of 1,219,300 MT for 2023/2024 were up 1 percent from the previous week and 25 percent from the prior 4-week average. Increases primarily for unknown destinations (341,200 MT), Japan (274,700 MT, including 73,700 MT switched from unknown destinations), Mexico (163,100 MT, including decreases of 4,000 MT), Colombia (138,700 MT, including 49,500 MT switched from unknown destinations and decreases of 15,400 MT), and South Korea (133,600 MT), were offset by reductions for China (68,000 MT) and Suriname (300 MT). Exports of 782,800 MT were down 14 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Mexico (384,800 MT), Colombia (105,500 MT), Japan (79,100 MT), Guatemala (73,300 MT), and South Korea (69,900 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Net sales of 60,900 MT for 2023/2024 were down 15 percent from the previous and 40 percent from the prior 4-week average. Increases reported for China (120,900 MT, including 60,000 MT switched from unknown destinations and decreases of 2,100 MT), were offset by reductions for unknown destinations (60,000 MT). Exports of 112,000 MT were up 65 percent from the previous week, but down 34 percent from the prior 4-week average.