US corn inspected for export rises 25% on week: USDA

28.02.2017

The amount of US corn inspected for export in the week ended Thursday rose 25% week on week to 1.461 million mt, US Department of Agriculture data showed Monday.

The amount of corn inspected was 98% higher than the 739,488 mt inspected for export a year earlier, according to the USDA's weekly Federal Grain Inspection Service report.

In the 25 weeks since the current marketing year began on September 1, the total amount of US corn inspected for export is 25.901 million mt, 75% above the previous marketing year and already 46% of the USDA's 56.518 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 inspected leaving from the US Gulf Coast were Mexico (167,229 mt of yellow corn and 62,089 mt of white corn), Saudi Arabia (144,125 mt), and Japan (130,936 mt of yellow corn and 2,957 mt of white corn), the data showed.

The top destinations for corn that was inspected leaving from Pacific Coast ports were Japan (173,276 mt) and South Korea (119,503 mt).

The top destination for corn that was inspected leaving from the Interior region was Mexico (140,190 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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