Market Perspectives – June 27, 2024

U.S. Export Statistics

Corn

Net sales of 542,200 MT for 2023/2024 were up 6 percent from the previous week, but down 39 percent from the prior 4-week average. Increases primarily for Mexico (453,700 MT, including 63,000 MT switched from unknown destinations and decreases of 15,900 MT), Japan (137,800 MT, including 62,000 MT switched from unknown destinations, 11,000 MT switched from the Philippines, decreases of 4,600 MT, and 62,000 MT – late), Colombia (118,700 MT, including 50,000 MT switched from unknown destinations and decreases of 11,700 MT), Taiwan (79,800 MT, including 65,000 MT switched from China and decreases of 500 MT), and Malaysia (9,000 MT), were offset by reductions for unknown destinations (277,700 MT) and the Philippines (11,000 MT). Net sales of 139,300 MT for 2024/2025 were reported for Mexico (112,600 MT), Colombia (16,000 MT), and Honduras (10,700 MT). Exports of 1,177,200 MT were down 21 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to Mexico (442,000 MT), Japan (281,800 MT), Colombia (187,500 MT), South Korea (68,500 MT), and China (67,400 MT).

Barley

No net sales were reported for the week. Exports of 300 MT were to Japan (200 MT) and South Korea (100 MT).

Sorghum

Net sales of 3,200 MT for 2023/2024 were down 94 percent from the previous week and 96 percent from the prior 4-week average. Increases reported for China (11,200 MT), were offset by reductions for Mexico (8,000 MT). No exports were reported for the week.