Market Perspectives – May 4, 2023

U.S. Export Statistics

Corn:  Net sales reductions of 315,600 MT for 2022/2023–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Japan (193,300 MT, including 88,500 MT switched from unknown destinations and decreases of 2,300 MT), Taiwan (74,400 MT, including 70,000 MT switched from China), Guatemala (37,000 MT, including 26,000 MT switched from Panama and decreases of 6,200 MT), Colombia (34,800 MT, including 5,000 MT switched from Honduras and decreases of 60,300 MT), and Mexico (28,700 MT, including decreases of 29,400 MT), were more than offset by reductions for China (562,800 MT), unknown destinations (168,800 MT), Panama (26,000 MT), South Korea (2,700 MT), and Hong Kong (100 MT). Net sales of 121,000 MT for 2023/2024 were reported for Mexico (97,300 MT), El Salvador (20,000 MT), and Costa Rica (3,700 MT).

Exports of 1,699,200 MT–a marketing-year high–were up 58 percent from the previous week and 54 percent from the prior 4-week average. The destinations were primarily to Japan (591,800 MT), Mexico (401,500 MT), China (201,800 MT), Colombia (175,900 MT), and Taiwan (75,300 MT).

Barley:  No net sales were reported for the week. Exports of 300 MT were to South Korea.

Sorghum:  Net sales of 1,200 MT for 2022/2023 were down noticeably from the previous week and down 95 percent from the prior 4-week average. Increases reported for China (56,200 MT, including 55,000 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions for unknown destinations (55,000 MT). Exports of 112,300 MT were up noticeably from the previous week and from the prior 4-week average. The destination was to China.