Market Perspectives – May 16, 2024

U.S. Export Statistics

Corn

Net sales of 742,200 MT for 2023/2024 were down 17 percent from the previous week and 14 percent from the prior 4-week average. Increases primarily for Mexico (244,400 MT, including 30,000 MT switched from unknown destinations and decreases of 2,200 MT), Japan (241,300 MT, including 60,500 MT switched from South Korea, 60,000 MT switched from unknown destinations, and decreases of 68,800 MT), Colombia (188,900 MT, including 127,000 MT switched from unknown destinations and decreases of 1,100 MT), Taiwan (78,500 MT), and China (68,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (91,000 MT), South Korea (31,900 MT), the Philippines (18,000 MT), Venezuela (10,000 MT), and Guatemala (2,200 MT). Total net sales of 128,200 MT for 2024/2025 were for Mexico. Exports of 952,400 MT were down 23 percent from the previous week and 35 percent from the prior 4-week average. The destinations were primarily to Mexico (424,500 MT), Japan (217,700 MT), Taiwan (84,100 MT), South Korea (68,200 MT), and Costa Rica (41,800 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Total net sales of 11,900 MT for 2023/2024 were down 81 percent from the previous week and 54 percent from the prior 4-week average. Exports of 140,600 MT were up 1 percent from the previous week and 29 percent from the prior 4-week average. The destination was China.