Market Perspectives – March 14, 2024

U.S. Export Statistics

Corn

Net sales of 1,283,400 MT for 2023/2024 were up 16 percent from the previous week and 19 percent from the prior 4-week average. Increases primarily for Japan (346,100 MT, including 110,000 MT switched from unknown destinations and decreases of 70,700 MT), Mexico (223,000 MT, including decreases of 1,000 MT), Taiwan (191,900 MT), China (133,000 MT, including 65,000 MT switched from unknown destinations), and Saudi Arabia (132,400 MT, including 60,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (6,700 MT) and Nicaragua (400 MT). Exports of 1,258,600 MT were up 9 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Mexico (467,000 MT), Japan (313,100 MT), Colombia (164,400 MT), Taiwan (76,700 MT), and China (68,000 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

Total net sales of 5,700 MT for 2023/2024 were down 93 percent from the previous week and 96 percent from the prior 4-week average. Exports of 65,000 MT were down 52 percent from the previous week and 66 percent from the prior 4-week average. The destination was China.