Market Perspectives – June 15, 2023

U.S. Export Statistics

Corn: Net sales of 273,300 MT for 2022/2023 were up 58 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for Japan (173,300 MT, including 160,500 MT switched from unknown destinations and decreases of 7,700 MT), Mexico (157,700 MT, including 31,000 MT switched from unknown destinations and decreases of 2,200 MT), Colombia (113,700 MT, including 91,000 MT switched from unknown destinations and decreases of 17,700 MT), Honduras (60,200 MT, including 7,500 MT switched from Nicaragua and decreases of 5,200 MT), and Guatemala (19,600 MT), were offset by reductions for unknown destinations (279,500 MT), Nicaragua (7,500 MT), the French West Indies (7,300 MT), and China (600 MT). Net sales of 21,100 MT for 2023/2024 were primarily for Honduras (9,800 MT) and Canada (8,200 MT). Exports of 1,192,600 MT were down 4 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (367,000 MT), Japan (304,500 MT), China (204,500 MT), Colombia (139,600 MT), and South Korea (67,600 MT).

Barley: Total net sales of 7,000 MT for 2023/2024 were for Mexico. No exports were reported for the week.

Sorghum: Net sales of 114,200 MT for 2022/2023 were up 75 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for China (109,200 MT, including decreases of 1,400 MT and 55,000 MT – late) and Mexico (5,000 MT). Exports of 52,100 MT were up 3 percent from the previous week, but down 19 percent from the prior 4-week average. The destination was to China.