Market Perspectives – February 9, 2023

U.S. Export Statistics

Corn:  Net sales of 1,160,300 MT for 2022/2023 were down 27 percent from the previous week, but up 19 percent from the prior 4-week average. Increases were primarily for Japan (388,200 MT), unknown destinations (308,200 MT), Mexico (107,000 MT, including decreases of 28,900 MT), Guatemala (70,800 MT), and Panama (67,000 MT). Total net sales of 10,000 MT for 2023/2024 were for Japan.

Exports of 394,900 MT were down 34 percent from the previous week and 40 percent from the prior 4-week average. The destinations were primarily to Mexico (283,900 MT), Costa Rica (33,200 MT), Canada (26,300 MT), Hong Kong (15,300 MT), and Nicaragua (12,200 MT).

Optional Origin Sales:  For 2022/2023, new optional sales 100,000 MT were for South Korea. The current outstanding balance of 100,000 MT, all South Korea.

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

Sorghum:  Total net sales of 53,000 MT for 2022/2023 were down 52 percent from the previous week and 43 percent from the prior 4-week average. The destination was for China. Exports of 200 MT were down 73 percent from the previous week and 99 percent from the prior 4-week average. The destination was to Mexico.