The last week of the 2022/23 marketing year included a net reduction in corn sales of 1.0 million bushels and shipments of just 20 million bushels, half of which were headed to Mexico.
As of Aug. 31, about 44 million bushels remained in outstanding old-crop sales, which were carried over into the new marketing year.
Sales of new-crop corn spiked to 81.2 million bushels during the week ending Aug. 31, which raised 2023/24 corn export sales to 409.7 million bushels, down about 11 percent from new-crop sales at the end of 2021/22 last August.
During the first week of September, USDA reported that net sales were 949,700 MT, primarily to Mexico (426,700 MT); China booked a modest 76,000 MT.
The full version of this commentary appeared on our IQ platform Sep. 8, 2023. Further information, statistics, and pricing for the corn market are available to IQ subscribers.Learn more about becoming a subscriber.
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