U.S. corn export sales seeing record pace

19.03.2018

U.S. corn export sales are on record pace, averaging 1.8 million tonnes in the last nine weeks, according to data from the U.S. Department of Agriculture (USDA).

In the most recent week ended March 8, sales topped 2.5 million tonnes, reaching a marketing year high for 2017-18. That’s 35% higher than the previous week and 41% higher than the prior 4-week average.

Drought in Argentina and limited corn supplies in Brazil have created an opportunity for U.S. suppliers, who have the largest available surplus for export, according to the Reuters news agency.

Exporters will need to load shipments at a record pace to keep up with the orders, Reuters said. If they don’t, the actual exports may not reach the government forecasts.

With the 25 weeks left in the marketing year that ends Aug. 31, exporters will have to move an average of 1.45 million tonnes per week to meet the forecast.



World Grain

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