Market Perspectives – October 19, 2023

U.S. Export Statistics

Corn:  Net sales of 881,300 MT for 2023/2024 were down 3 percent from the previous week and 15 percent from the prior 4-week average. Increases primarily for Mexico (260,300 MT, including decreases of 2,600 MT), Guatemala (147,000 MT), Colombia (139,200 MT, including 50,000 MT switched from unknown destinations and decreases of 2,000 MT), unknown destinations (121,300 MT), and Japan (102,500 MT, including 42,500 MT switched from unknown destinations), were offset by reductions for Costa Rica (7,000 MT) and Canada (1,200 MT). Total net sales of 10,100 MT for 2024/2025 were for Mexico.

Exports of 516,300 MT–a marketing-low–were down 37 percent from the previous week and 25 percent from the prior 4-week average. The destinations were primarily to Mexico (280,300 MT), Colombia (170,400 MT), Japan (42,500 MT), El Salvador (11,200 MT), and Taiwan (11,000 MT).

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

Sorghum:  Net sales of 60,000 MT for 2023/2024 were up noticeably from the previous week, but down 20 percent from the prior 4-week average. Increases reported for China (130,100 MT, including 68,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (68,000 MT), and Mexico (2,100 MT). Exports of 72,700 MT were up 22 percent from the previous week and 73 percent from the prior 4-week average. The destinations were to China (72,400 MT) and Mexico (300 MT).