Market Perspectives – June 6, 2024

U.S. Export Statistics

Corn

Net sales of 1,180,900 MT for 2023/2024 were up 46 percent from the previous week and 41 percent from the prior 4-week average. Increases primarily for Mexico (380,200 MT, including 50,000 MT switched from unknown destinations and decreases of 21,400 MT), Japan (307,300 MT, including 49,700 MT switched from unknown destinations and decreases of 4,500 MT), Spain (271,800 MT), China (136,200 MT, including 130,000 MT switched from unknown destinations), and Colombia (75,700 MT, including 9,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (90,400 MT), Nicaragua (10,800 MT), the Philippines (7,100 MT), and South Korea (500 MT). Net sales of 113,300 MT for 2024/2025 primarily for Mexico (90,600 MT) and unknown destinations (20,000 MT), were offset by reductions for Costa Rica (9,900 MT). Exports of 1,488,600 MT were up 43 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Mexico (538,600 MT), Japan (383,200 MT), Saudi Arabia (148,500 MT), China (136,200 MT), and Colombia (99,900 MT).

Barley

Total net sales reductions of 200 MT for 2023/2024 were for South Korea. No exports were reported for the week.

Sorghum

Total net sales of 56,100 MT for 2023/2024 were down 9 percent from the previous week, but up 61 percent from the prior 4-week average. Increases were primarily for unknown destinations (53,000 MT). Total net sales of 300 MT for 2024/2025 were for Japan. Exports of 68,000 MT were up 42 percent from the previous week, but down 40 percent from the prior 4-week average. The destination was China.