Market Perspectives – March 28, 2024

U.S. Export Statistics

Corn

Net sales of 1,206,500 MT for 2023/2024 were up 2 percent from the previous week and 4 percent from the prior 4-week average. Increases primarily for Mexico (492,000 MT, including 100,000 MT switched from unknown destinations and decreases of 700 MT), Canada (190,200 MT, including decreases of 700 MT and 181,900 MT – late), Colombia (146,200 MT, including 60,000 MT switched from unknown destinations and decreases of 18,000 MT), unknown destinations (102,000 MT), and Japan (90,500 MT), were offset by reductions for Morocco (4,000 MT) and Guatemala (2,300 MT). Net sales of 126,400 MT for 2024/2025 were reported for Mexico (90,000 MT), unknown destinations (25,400 MT), Japan (10,000 MT), and Honduras (1,000 MT). Exports of 1,234,100 MT were down 19 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (426,800 MT), Japan (237,500 MT), South Korea (209,400 MT), Colombia (167,800 MT), and Guatemala (44,000 MT).

Barley

Total net sales reductions of 4,800 MT for 2023/2024 were for Mexico. Exports of 1,000 MT were to Japan.

Sorghum

Net sales of 77,900 MT for 2023/2024 were up noticeably from the previous week, but down 42 percent from the prior 4-week average. The destination was China, including decreases of 100 MT. Exports of 11,700 MT were down 94 percent from the previous week and 91 percent from the prior 4-week average.