Market Perspectives – June 29, 2023

U.S. Export Statistics

Corn:  Net sales of 140,400 MT for 2022/2023 were up noticeably from the previous week, but down 16 percent from the prior 4-week average. Increases primarily for Japan (103,700 MT, including 112,900 MT switched from unknown destinations and decreases of 3,600 MT), Mexico (92,700 MT, including decreases of 900 MT), Taiwan (18,500 MT), Jamaica (18,100 MT), and El Salvador (8,300 MT, including 7,500 MT switched from Honduras and decreases 900 MT), were offset by reductions for unknown destinations (87,500 MT), Colombia (14,500 MT), and Honduras (6,300 MT). Net sales of 123,500 MT for 2023/2024 were reported for Mexico (79,500 MT), Honduras (29,400 MT), and Canada (14,600 MT).

Exports of 605,300 MT were down 9 percent from the previous week and 47 percent from the prior 4-week average. The destinations were primarily to Mexico (315,600 MT), Japan (138,300 MT), Colombia (53,400 MT), El Salvador (24,400 MT), and Panama (19,700 MT).

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

Sorghum:  Net sales of 112,000 MT for 2022/2023 were up 90 percent from the previous week and 21 percent from the prior 4-week average. Increases reported for unknown destinations (118,000 MT), were offset by reductions for China (6,000 MT). Total net sales of 60,000 MT for 2023/2024 were for unknown destinations. Exports of 60,900 MT were up noticeably from the previous week and up 74 percent from the prior 4-week average. The destinations were to China (60,000 MT) and Mexico (900 MT).