Market Perspectives – July 5, 2024

U.S. Export Statistics

Corn

Net sales of 357,200 MT for 2023/2024 were down 34 percent from the previous week and 57 percent from the prior 4-week average. Increases primarily for unknown destinations (138,400 MT), Colombia (78,800 MT, including decreases of 22,400 MT and 35,700 MT – late), Japan (47,000 MT, including decreases of 7,000 MT), Costa Rica (42,800 MT, including 15,100 MT – late), and the Dominican Republic (16,200 MT), were offset by reductions for El Salvador (8,400 MT), Morocco (1,000 MT), and Guatemala (100 MT). Net sales of 311,500 MT for 2024/2025 were reported for Mexico (301,000 MT), Japan (7,500 MT), Honduras (2,300 MT), and the United Kingdom (700 MT). Exports of 894,400 MT were down 24 percent from the previous week and 34 percent from the prior 4-week average. The destinations were primarily to Mexico (224,300 MT), Japan (224,000 MT), Taiwan (141,500 MT), Honduras (60,000 MT, including 5,000 MT – late), and Spain (55,000 MT).

Barley

Total net sales of 100 MT for 2024/2025 were for South Korea. No exports were reported for the week.

Sorghum

Total net sales reductions of 800 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Decreases were for China. Exports of 53,700 MT were up noticeably from the previous week, but down 14 percent from the prior 4-week average. The destination was China.