Market Perspectives – July 13, 2023

U.S. Export Statistics

Corn:  Net sales of 468,400 MT for 2022/2023 were up 86 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for Mexico (273,300 MT, including decreases of 35,000 MT), Canada (111,800 MT), Japan (52,300 MT, including 42,000 MT switched from unknown destinations and decreases of 1,100 MT), Honduras (52,000 MT), and Colombia (33,800 MT), were offset by reductions for unknown destinations (32,900 MT), the French West Indies (6,700 MT), the Dominican Republic (3,600 MT), Costa Rica (500 MT), and the Leeward-Winward Islands (200 MT). Net sales of 470,800 MT for 2023/2024 primarily for Mexico (267,100 MT), Canada (131,700 MT), Japan (50,000 MT), unknown destinations (41,100 MT), and Taiwan (1,900 MT), were offset by reductions for Honduras (22,600 MT).

Exports of 492,700 MT were down 30 percent from the previous week and 38 percent from the prior 4-week average. The destinations were primarily to Mexico (271,800 MT), Japan (93,300 MT), Costa Rica (33,000 MT – late), Canada (22,500 MT), and Colombia (21,800 MT).

Late Reporting:  For 2022/2023, exports of 42,271 MT were late to Costa Rica (33,041 MT), Trinidad and Tobago (4,389 MT), Barbados (4,100 MT), and the Leeward-Winward Islands (741 MT).

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

Sorghum:  Net sales of 130,300 MT for 2022/2023 were up 5 percent from the previous week and 28 percent from the prior 4-week average. Increases reported for China (180,300 MT, including 118,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (50,000 MT). Net sales of 223,000 MT for 2023/2024 were reported for China (113,000 MT) and unknown destinations (110,000 MT). Exports of 69,900 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to China (69,800 MT) and Mexico (100 MT).