Market Perspectives – September 5, 2024

U.S. Export Statistics

Publication of the USDA export sales report for the week of August 29, 2024, is delayed until Friday, September 6 due to the U.S. federal holiday on Monday, September 2. Therefore, the previous week’s export sales numbers and commentary are provided here. Export inspections data was available and has been updated.

Corn

Net sales of 15,300 MT for 2023/2024 – a marketing-year low – were down 87 percent from the previous week and 93 percent from the prior 4-week average. Increases primarily for Spain (106,000 MT, including 116,500 MT switched from unknown destinations and 50,000 MT switched from Portugal), Mexico (53,400 MT, including decreases of 24,000 MT), Portugal (20,000 MT, including 70,000 MT switched from Spain), Colombia (10,100 MT, including 12,000 MT switched from Panama and decreases of 43,900 MT), and Guatemala (9,700 MT, including 7,500 MT switched from Costa Rica and 1,400 MT switched from Nicaragua), were offset by reductions for unknown destinations (75,200 MT), South Korea (62,000 MT), Japan (37,900 MT), Panama (12,000 MT), and Nicaragua (7,500 MT). Net sales of 1,494,100 MT for 2024/2025 were primarily for Mexico (419,700 MT), unknown destinations (391,200 MT), Japan (203,500 MT), Colombia (112,100 MT), and Guatemala (109,900 MT). Exports of 1,048,900 MT were down 9 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Mexico (437,600 MT), Japan (250,100 MT, including 51,200 MT – late), Colombia (171,200 MT), Spain (126,000 MT), and Canada (26,900 MT).

Barley

No net sales or exports for 2024/2025 were reported for the week.

Sorghum

Total net sales of 3,200 MT for 2023/2024 were down 54 percent from the previous week and 94 percent from the prior 4-week average. The destination was China, including decreases of 1,200 MT. Total net sales of 70,000 MT for 2024/2025 were for China. Exports of 114,300 MT were up noticeably from the previous week and up 35 percent from the prior 4-week average. The destination was China.