Market Perspectives – July 20, 2023

U.S. Export Statistics

Corn:  Net sales of 236,800 MT for 2022/2023 were down 49 percent from the previous week, but up 6 percent from the prior 4-week average. Increases primarily for Colombia (110,400 MT, including 25,000 MT switched from unknown destinations and decreases of 600 MT), unknown destinations (58,800 MT), Japan (53,700 MT, including 38,400 MT switched from unknown destinations), Honduras (17,900 MT, including decreases of 18,600 MT), and Ireland (15,000 MT), were offset by reductions for Mexico (15,300 MT), the Dominican Republic (10,000 MT), the Netherlands (3,800 MT), Canada (400 MT), and Panama (200 MT). Net sales of 491,600 MT for 2023/2024 were primarily for Mexico (386,500 MT), Canada (55,400 MT), Panama (17,000 MT), Honduras (10,700 MT), and Taiwan (9,900 MT).

Exports of 383,800 MT were down 22 percent from the previous week and 38 percent from the prior 4-week average. The destinations were primarily to Mexico (210,100 MT), China (70,600 MT), Japan (38,400 MT), Colombia (24,400 MT), and Canada (24,100 MT, including 500 MT – late).

Late Reporting:  For 2022/2023, exports of 452 MT of corn were late to Canada.

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

Sorghum:  Net sales of 238,300 MT for 2022/2023 were up 83 percent from the previous week and up noticeably from the prior 4-week average. Increases reported for China (306,300 MT, including 68,000 MT switched from unknown destinations and 53,000 MT – late), were offset by reductions for unknown destinations (68,000 MT). Total net sales of 414,000 MT for 2023/2024 were reported for China (including 113,000 MT – late). Exports of 137,900 MT were up 97 percent from the previous week and up noticeably from the prior 4-week average. The destination was primarily to China (137,300 MT).

Late Reporting:  For 2022/2023, new sales totaling 53,000 MT and 2023/2024 totaling 113,000 MT of sorghum were reported late for China.