Market Perspectives – July 18, 2024

U.S. Export Statistics

Corn

Net sales of 437,800 MT for 2023/2024 were down 19 percent from the previous week and 10 percent from the prior 4-week average. Increases primarily for Japan (191,200 MT, including 195,100 MT switched from unknown destinations and decreases of 8,500 MT), Mexico (129,400 MT, including 51,000 MT switched from unknown destinations and decreases of 8,500 MT), Colombia (102,000 MT, including 10,000 MT switched from unknown destinations), Saudi Arabia (60,000 MT), and Portugal (55,000 MT), were offset by reductions for unknown destinations (195,100 MT), Costa Rica (10,800 MT), El Salvador (1,000 MT), and Honduras (600 MT). Net sales of 485,700 MT for 2024/2025 were primarily for unknown destinations (201,600 MT), Mexico (118,100 MT), Colombia (62,500 MT), Panama (48,500 MT), and El Salvador (29,000 MT). Exports of 1,103,800 MT were up 26 percent from the previous week, but unchanged from the prior 4-week average. The destinations were primarily to Mexico (474,000 MT), Japan (229,200 MT), Taiwan (130,600 MT), South Korea (88,200 MT), and Colombia (67,800 MT).

Barley

No net sales for 2024/2025 were reported for the week. Exports of 500 MT were to Japan.

Sorghum

Total net sales of 60,500 MT for 2023/2024 were down 46 percent from the previous week, but up 43 percent from the prior 4-week average. Increases were for China. Total net sales of 50,000 MT for 2024/2025 were for China. Exports of 60,500 MT were up 7 percent from the previous week and up noticeably from the prior 4-week average. The destination was China.