Market Perspectives – March 21, 2024

U.S. Export Statistics

Corn

Net sales of 1,185,800 MT for 2023/2024 were down 8 percent from the previous week, but up 10 percent from the prior 4-week average. Increases primarily for Japan (545,600 MT, including 179,400 MT switched from unknown destinations and decreases of 81,200 MT), Mexico (246,000 MT, including decreases of 24,800 MT and 81,200 MT – late), South Korea (133,000 MT, including 130,000 MT switched from unknown destinations and decreases of 1,700 MT), Taiwan (101,400 MT), and Colombia (88,500 MT, including 41,000 MT switched from unknown destinations and decreases of 4,500 MT),were offset by reductions for unknown destinations (132,300 MT) and Costa Rica (1,500 MT). Exports of 1,528,500 MT–a marketing-year high–were up 21 percent from the previous week and 31 percent from the prior 4-week average. The destinations were primarily to Mexico (761,900 MT, including 81,200 MT – late), Japan (209,600 MT), Taiwan (145,300 MT), South Korea (133,900 MT), and Colombia (94,300 MT).

Barley

No net sales were reported for the week.

Sorghum

Net sales of 9,800 MT for 2023/2024 were up 71 percent from the previous week, but down 93 percent from the prior 4-week average. Increases reported for Japan (10,000 MT), were offset by reductions for China (200 MT). Exports of 190,000 MT were up noticeably from the previous week and up 19 percent from the prior 4-week average. The destination was China.