Net corn export sales for the week of Oct. 11 were just 382,55 MT, down from over 1.0 MMT the week before; even accounting for 344,500 MT of reductions, sales pace was notably slower than the previous four weeks. Purchases from top importer Mexico were down about 65 percent from the week’s net sales last season; the slowdown from Mexico was likely a response to stronger-than-average sales at the end of September, but the correction feels steep.
Outstanding U.S. sales were 13.8 MMT, up 27 percent from this time last year. Outstanding sales to Mexico, at 4.4 MMT, were down 13 percent year over year, as export pace was very brisk during the first two weeks of October. After a slow start compared to last season, U.S. corn exports to Mexico were over 2.2 MMT as of Oct. 11, up 16 percent from a year ago.
All U.S. cumulative corn shipments totaled 7.3 MMT (286.5 million bushels), up 80 percent from last season to date.
Weekly net corn export sales to Mexico
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