US corn inspected for export falls 11% on week, 44% on year

12.03.2019

The amount of US corn inspected for export in the week that ended March 7 totaled 765,618 mt, down 11% from the previous week, US Department of Agriculture data showed Monday.

The total in the most recent reporting period fell 44% compared with the 1.377 million mt inspected in the same week a year ago, according to the USDA's weekly Federal Grain Inspection Service report.

The largest share of US grain exports inspected last week was taken by soybeans, at 38% of the total. Corn, at 33%, was second, followed by wheat at 25%.

In the first 187 days of the 2018-19 marketing year, the amount of US corn inspected for export totaled 26.564 million mt, 30% higher than in the same period in the previous marketing year and 44% of USDA's , just updated, projection of 60.328 million mt for the current marketing year.

US export shipments were below the average weekly pace needed to reach the USDA's estimate for exports in the ongoing marketing year.

The data showed the amount of US corn inspected for departure from the US Gulf Coast totaled 501,610 mt -- 451,311 mt of yellow corn and 50,299 mt of white corn. The top destinations were Japan, with 158,834 mt of yellow corn; Colombia, with 116,935 mt of yellow corn and 18,799 mt of white corn; and Mexico, with 97,769 mt of yellow corn and 31,500 mt of white corn.

The amount of US corn inspected leaving the US Pacific Coast was 160,618 mt of yellow corn, been Japan the destination.

Inspections of corn leaving the Interior region totaled 103,390 mt of yellow corn. The top destinations were Mexico, with 78,603 mt and Taiwan, with 22,193 mt.

US corn inspected for exports is corn that has been sold and inspected during loading at export locations for shipment overseas. Traders consider the pace needed to meet the USDA projection an indicator of demand.

Corn is the primary feedstock for ethanol production in the US and is the main competitor for dried distiller grains.


spglobal.com

 

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