Net export sales remained below 1.0 MMT during the week ending Dec. 8, and shipments fell below 600,000 MT. Total 2022/23 commitments were 20.0 MMT as of Dec. 8, about 40 percent of the season forecast, so based on that indicator, USDA may be content to let exports play out a bit longer at the current forecast. However, this season, it looks like Brazil may make a very large corn crop, which could limit growth in demand for U.S. corn after the spring.

In years of steady exports, like 2018/19, total commitments are usually closer to 60 percent by now.

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Source: USDA

Posted by: Information Services
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