Market Perspectives – January 25, 2024

U.S. Export Statistics

Corn

Net sales of 954,800 MT for 2023/2024 were down 24 percent from the previous week, but up 14 percent from the prior 4-week average. Increases primarily for Mexico (563,600 MT, including decreases of 400 MT), unknown destinations (155,500 MT), Colombia (144,900 MT, including 60,000 MT switched from unknown destinations and decreases of 100 MT), Honduras (52,100 MT), and Japan (37,600 MT, including 25,700 MT switched from unknown destinations and decreases of 400 MT), were offset by reductions for the Dominican Republic (30,000 MT) and Costa Rica (5,000 MT). Total net sales of 37,600 MT for 2024/2025 were for Mexico. Exports of 931,800 MT were down 7 percent from the previous week and from the prior 4-week average. The destinations were primarily to Mexico (566,500 MT), Japan (152,600 MT), China (68,400 MT), Colombia (64,900 MT), and Panama (25,900 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Total net sales of 60,300 MT for 2023/2024 were down 57 percent from the previous week and 21 percent from the prior 4-week average. Increases were for China. Total net sales of 1,100 MT for 2024/2025 were for China. Exports of 80,100 MT were down 73 percent from the previous week and 62 percent from the prior 4-week average.