Market Perspectives – November 9, 2023

U.S. Export Statistics

Corn:  Net sales of 1,015,300 MT for 2023/2024 were up 36 percent from the previous week and 4 percent from the prior 4-week average. Increases primarily for Mexico (384,800 MT, including decreases of 3,200 MT), unknown destinations (228,500 MT), Japan (162,900 MT, including 21,100 MT switched from unknown destinations), South Korea (65,800 MT), and Colombia (57,900 MT, including 22,000 MT switched from unknown destinations, 14,200 MT switched from the Dominican Republic, and decreases of 28,900 MT), were offset by reductions for the Dominican Republic (18,000 MT). Total net sales of 140,000 MT for 2024/2025 were for Mexico.

Exports of 824,900 MT–a marketing-year high–were up 63 percent from the previous week and 42 percent from the prior 4-week average. The destinations were primarily to Mexico (526,300 MT), Colombia (109,900 MT), Canada (91,100 MT), Honduras (48,800 MT), and Japan (21,100 MT).

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

Sorghum:  Total net sales of 139,000 MT for 2023/2024 were down 63 percent from the previous week and 12 percent from the prior 4-week average. The destination was China. Exports of 1,000 MT were down 98 percent from the previous week and from the prior 4-week average. The destinations were primarily to China (500 MT).