Market Perspectives – November 16, 2023

U.S. Export Statistics

Corn:  Net sales of 1,807,500 MT for 2023/2024 were up 78 percent from the previous week and 81 percent from the prior 4-week average. Increases primarily for Mexico (1,061,100 MT, including decreases of 2,700 MT), Japan (532,900 MT, including 22,600 MT switched from unknown destinations), Colombia (124,000 MT, including 35,200 MT switched from unknown destinations and decreases of 3,700 MT), South Korea (59,000 MT, including decreases of 10,000 MT), and Honduras (50,900 MT, including decreases of 9,900 MT), were offset by reductions for Morocco (35,000 MT), Canada (13,000 MT), El Salvador (7,200 MT), and the Dominican Republic (4,000 MT).

Exports of 683,100 MT were down 17 percent from the previous week, but up 17 percent from the prior 4-week average. The destinations were primarily to Mexico (461,600 MT), Colombia (75,900 MT), Honduras (49,200 MT), Canada (27,700 MT), and Japan (22,600 MT).

Barley:  No net sales or exports were reported for the week.

Sorghum:  Net sales of 76,400 MT for 2023/2024 were down 45 percent from the previous week and 60 percent from the prior 4-week average. Increases reported for China (144,400 MT, including 68,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (68,000 MT). Exports of 76,500 MT were up noticeably from the previous week and from the prior 4-week average. The destination was primarily to China (76,300 MT).