Market Perspectives – October 31, 2024

U.S. Export Statistics

Corn

Net sales of 2,341,700 MT for 2024/2025 were down 35 percent from the previous week, but up 7 percent from the prior 4-week average. Increases primarily for unknown destinations (771,300 MT), Mexico (596,000 MT, including decreases of 7,500 MT), Japan (541,200 MT, including 40,200 MT switched from unknown destinations), Colombia (127,900 MT, including 21,000 MT switched from Panama and decreases of 6,800 MT), and Guatemala (107,500 MT, including 71,000 MT switched from unknown destinations, 1,100 MT switched from Honduras, and decreases of 2,000 MT), were offset by reductions for Panama (21,000 MT) and Ireland (200 MT). Exports of 788,000 MT were down 21 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to Mexico (352,300 MT), Colombia (249,900 MT), Guatemala (88,300 MT), Japan (40,200 MT), and the United Kingdom (23,000 MT).

Barley

Net sales of 2,600 MT for 2024/2025 were reported for Canada (1,900 MT) and South Korea (700 MT). Exports of 800 MT were to Canada (400 MT) and Japan (400 MT).

Sorghum

Total net sales of 5,700 MT for 2024/2025 were down 92 percent from the previous week and 83 percent from the prior 4-week average. The destination was China, including decreases of 800 MT. Exports of 3,700 MT were up noticeably from the previous week, but down 94 percent from the prior 4-week average. The destination was China.