Market Perspectives – May 23, 2024

U.S. Export Statistics

Corn

Net sales of 911,200 MT for 2023/2024 were up 23 percent from the previous week, but down 1 percent from the prior 4-week average. Increases primarily for Mexico (350,300 MT, including decreases of 16,500 MT), China (273,800 MT, including 263,000 MT switched from unknown destinations), Japan (220,100 MT, including 43,300 MT switched from unknown destinations and decreases of 4,200 MT), Costa Rica (56,300 MT), and Panama (45,900 MT, including 22,900 MT switched from Colombia), were offset by reductions for unknown destinations (263,100 MT). Net sales of 305,000 MT for 2024/2025 were primarily for Mexico (286,000 MT), Costa Rica (9,900 MT), and Trinidad and Tobago (7,200 MT). Exports of 1,448,600 MT were up 52 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (396,200 MT), China (275,200 MT), Japan (236,100 MT), Colombia (180,000 MT), and Saudi Arabia (72,600 MT).

Barley

No net sales or exports were reported for the week.

Sorghum

Total net sales of 4,400 MT for 2023/2024 were down 63 percent from the previous week and 85 percent from the prior 4-week average. Exports of 127,000 MT were down 10 percent from the previous week, but up 2 percent from the prior 4-week average. The destination was China.