Market Perspectives – November 14, 2024

U.S. Export Statistics

Publication of the USDA export sales report for the week of November 7, 2024, is delayed until Friday, November 15 due to the U.S. federal holiday on Monday, November 11. Therefore, the previous week’s export sales numbers and commentary are provided here. Export inspections data was available and has been updated.

Corn

Net sales of 2,766,500 MT for 2024/2025 were up 18 percent from the previous week and from the prior 4-week average. Increases primarily for Mexico (1,395,300 MT, including 30,000 MT switched from unknown destinations and decreases of 3,200 MT), unknown destinations (673,500 MT), Japan (296,200 MT, including 50,500 MT switched from unknown destinations and decreases of 800 MT), Colombia (155,200 MT, including 24,000 MT switched from unknown destinations and decreases of 38,500 MT), and Portugal (87,900 MT, including 21,500 MT switched from unknown destinations), were offset by reductions for Ireland (20,000 MT) and Nicaragua (4,500 MT). Total net sales of 65,500 MT for 2025/2026 were for Mexico. Exports of 917,600 MT were up 17 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (570,700 MT), Japan (133,000 MT), Colombia (72,000 MT), Guatemala (43,300 MT), and Portugal (22,900 MT).

Barley

No net sales for 2024/2025 were reported for the week. Exports of 1,200 MT were to South Korea (800 MT) and Japan (400 MT).

Sorghum

Net sales of 7,000 MT for 2024/2025 were up 24 percent from the previous week, but down 70 percent from the prior 4-week average. Increases reported for China (67,000 MT, including 60,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (60,000 MT). Exports of 65,800 MT were up noticeably from the previous week and from the prior 4-week average. The destination was China.