Market Perspectives – May 2, 2024

U.S. Export Statistics

Corn

Net sales of 758,500 MT for 2023/2024 were down 42 percent from the previous week and 1 percent from the prior 4-week average. Increases primarily for Japan (267,400 MT, including 159,600 MT switched from unknown destinations and decreases of 6,100 MT), Mexico (190,800 MT, including decreases of 16,100 MT), South Korea (140,700 MT, including 68,000 MT switched from unknown destinations and decreases of 200 MT), Colombia (50,400 MT, including 13,000 MT switched from unknown destinations and decreases of 32,600 MT), and Nicaragua (27,600 MT, including decreases of 2,700 MT), were offset by reductions for unknown destinations (16,800 MT) and Taiwan (900 MT). Net sales of 33,700 MT for 2024/2025 were reported for Mexico (30,000 MT) and Canada (3,700 MT). Exports of 1,382,300 MT were down 19 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (464,000 MT), Japan (362,600 MT), South Korea (265,700 MT), Colombia (157,100 MT), and Honduras (46,900 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Total net sales of 6,500 MT for 2023/2024 were down 83 percent from the previous week and 51 percent from the prior 4-week average. The destination was China. Exports of 75,400 MT were down 48 percent from the previous week and 41 percent from the prior 4-week average. The destination was China.