US corn inspected for export rises 34% on week, 59.7% on year: USDA

10.04.2018

The amount of US corn inspected for export rose 34% week on week to 1.937 million mt in the week that ended Thursday, US Department of Agriculture data showed Monday.

The amount of corn inspected climbed 59.7% from the 1.213 million mt inspected for export in the year-ago week, according to the USDA's weekly Federal Grain Inspection Service report.

The largest share of the US' grain exports last week was corn, at 64.8% of the total grains inspected for export. Wheat held the second largest share, consisting of 14.4% of US grains inspected for export. Soybeans fell to the third largest grain inspected for export, consisting of 12.5% of the total, down 11 percentage points on the week, according to the USDA data.

In the 31 weeks since the current marketing year began September 1, the amount of US corn inspected for export totaled 26.476 million mt, 23.4% below the same period the previous marketing year and 46.9% of the USDA's 56.518 million mt projection for the current marketing year, which ends August 31.

US export shipments were above the weekly pace needed to reach the USDA's latest estimates for exports this marketing year, according to the data.

The data showed the total amount of US corn that was inspected leaving the US Gulf Coast was 1.128 million mt -- 1.035 million mt of yellow corn and 92,914 mt of white corn. The top destinations were Japan, with 231,594 mt of yellow corn and 4,322 mt of white corn inspected and weighed for export; Mexico, with 152,701 mt of yellow corn and 69,858 of white corn; and Saudi Arabia, with 130,836 mt of yellow corn.

The amount of US corn inspected leaving the US Pacific Coast was 620,408 mt of yellow corn. The top destinations were Japan, with 309,3457 mt of yellow corn and Vietnam, with 177,029 mt of yellow corn.

The total of US corn that was inspected leaving the Interior region was 188,394 mt of yellow corn, with the top destination of Mexico, with 162,835 mt of yellow corn.

US corn inspected for export is corn that has been sold and is 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 distillers grains.


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