Market Perspectives – October 26, 2023

U.S. Export Statistics

Corn:  Net sales of 1,351,100 MT for 2023/2024 were up 53 percent from the previous week and 22 percent from the prior 4-week average. Increases primarily for Mexico (762,400 MT, including 45,000 MT switched from unknown destinations and decreases of 1,800 MT), Colombia (241,900 MT, including decreases of 33,900 MT), Japan (149,400 MT, including 25,400 MT switched from unknown destinations), unknown destinations (97,100 MT), and Costa Rica (64,300 MT), were offset by reductions for Guatemala (6,200 MT) and Canada (2,700 MT). Total net sales of 16,000 MT for 2024/2025 were for Mexico.

Exports of 483,700 MT–a marketing-year low–were down 6 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to Mexico (349,800 MT), Colombia (61,500 MT), Japan (25,400 MT), Jamaica (21,000 MT), and Taiwan (8,900 MT).

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

Sorghum:  Net sales of 191,000 MT for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for unknown destinations (123,000 MT) and China (68,000 MT).  Exports of 300 MT–a marketing-year low–were down noticeably from the previous week and down 99 percent from the prior 4-week average. The destination was Mexico.