US corn inspected for export rises 66% on week, 23% on year: USDA

16.05.2017

The amount of US corn inspected for export in the week that ended Thursday rose 66% week on week to 1.396 million mt, Department of Agriculture data showed Monday.

The amount of corn inspected was 23% higher than the 1.133 million mt inspected for export in the year-ago period, according to the USDA's weekly Federal Grain Inspection Service report.

In the 36 weeks since the current marketing year began September 1, the amount of US corn inspected for export totaled 40.722 million mt, 54% above the same period in the previous marketing year and 72% of the USDA's 56.518 million mt projection of exports 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 Japan (145,375 mt), Spain (96,588 mt) and Mexico (38,834 mt of yellow corn and 50,864 mt of white corn), the data showed.

The top destinations for corn that was inspected leaving from Pacific Coast ports were South Korea (201,151 mt), Japan (155,060 mt) and Taiwan (71,499 mt).

The top destination for corn that was inspected leaving from the Interior region was Mexico (188,136 mt of yellow corn and 5,389 mt of white corn).

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


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