Market Perspectives – March 7, 2024

U.S. Export Statistics

Corn

Net sales of 1,109,600 MT for 2023/2024 were up 3 percent from the previous week, but unchanged from the prior 4-week average. Increases primarily for Japan (498,900 MT, including 136,400 MT switched from unknown destinations and decreases of 2,600 MT), Mexico (281,700 MT, including decreases of 23,200 MT), Colombia (144,200 MT, including 39,000 MT switched from unknown destinations and decreases of 31,000 MT), Venezuela (61,700 MT), and the Dominican Republic (43,000 MT), were offset by reductions for unknown destinations (67,800 MT), Honduras (2,600 MT), Guatemala (600 MT), and Costa Rica (200 MT). Exports of 1,159,500 MT were down 5 percent from the previous week, but up 18 percent from the prior 4-week average. The destinations were primarily to Mexico (476,500 MT), Japan (305,300 MT), Colombia (140,300 MT), Honduras (48,200 MT), and Panama (44,100 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Net sales of 79,500 MT for 2023/2024 were down 82 percent from the previous week and 38 percent from the prior 4-week average. Increases reported for China (134,500 MT, including 55,000 MT switched from unknown destinations and decreases of 800 MT), were offset by reductions for unknown destinations (55,000 MT). Exports of 134,900 MT were up 7 percent from the previous week, but down 28 percent from the prior 4-week average. The destination was China.