Market Perspectives – November 21, 2024

U.S. Export Statistics

Corn

Net sales of 1,494,600 MT for 2024/2025 were up 14 percent from the previous week, but down 40 percent from the prior 4-week average. Increases primarily for Mexico (787,400 MT, including 5,000 MT switched from Spain and decreases of 22,000 MT), unknown destinations (146,300 MT), Japan (132,100 MT, including 6,300 MT switched from unknown destinations and decreases of 1,600 MT), Colombia (80,800 MT, including 50,000 MT switched from unknown destinations), and Vietnam (68,200 MT, including 62,000 MT switched from unknown destinations), were offset by reductions for Spain (5,000 MT) and Ireland (1,400 MT). Exports of 957,000 MT were up 37 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Mexico (435,400 MT), Colombia (157,700 MT), Japan (129,200 MT), Vietnam (68,200 MT), and Saudi Arabia (52,000 MT).

Barley

Total net sales of 900 MT for 2024/2025 were for Canada. Exports of 600 MT were to Canada (400 MT), Japan (100 MT), and South Korea (100 MT).

Sorghum

Total net sales of 121,100 MT for 2024/2025 were down 14 percent from the previous week, but up noticeably from the prior 4-week average. Increases were for China. Exports of 61,300 MT were down 13 percent from the previous week but were up 75 percent from the prior 4-week average. The destination was China.