US corn inspected for export falls 35.85% on week: USDA

04.01.2017

The amount of US corn inspected for export in the week ended Thursday dropped 35.85% week on week to 636,684 mt, US Department of Agriculture data showed Tuesday.

The amount of corn inspected was 67.93% higher than the 379,138 mt inspected for export a year earlier, according to the USDA's weekly Federal Grain Inspection Service report.

In the 17 weeks since the current marketing year began September 1, the total amount of US corn inspected for export is 17.058 million mt, 79.47% above the previous year and already 30.18% of the USDA's 56.517 million mt projection for the year.

US corn for export is inspected as it is being loaded for shipment overseas. Traders usually consider the pace needed to meet the USDA projection as an indicator of demand.

The top destinations for corn that was inspected leaving from the US Gulf Coast were Peru (113,486 mt), Mexico (62,636 mt) and Guatemala (55,416 mt), the data showed.

The top destinations for corn that was inspected leaving from Pacific Coast ports were South Korea (135,236 mt) and Japan (57,859 mt).

The top destination for corn that was inspected leaving from the Interior region was Mexico (77,677 mt).

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


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