US corn inspected for export up 29.3% on week, 122.2% on year: USDA

08.05.2018

The amount of US corn inspected for export rose 29.3% week on week to 1.916 million mt in the week ended May 3, US Department of Agriculture data showed Monday.

The amount of corn inspected was 122.2% higher than the 862,344 mt inspected for export in the year-ago week, according to the USDA's weekly Federal Grain Inspection Service report.

The largest share of US grain exports last week was corn, at 67.3% of the total grains inspected for export. Soybeans held the second-largest share, consisting of 18.7% of US grains inspected for export. Wheat was the third-largest grain inspected for export, consisting of 11.5% of the total, according to the USDA data.

In the 35 weeks since the current marketing year began September 1, the amount of US corn inspected for export totaled 33.192 million mt, 15.7% lower than in the same period the previous marketing year and 58.7% of the USDA's 56.518 million mt projection for the current marketing year ending 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 928,655 mt -- 891,333 mt of yellow corn and 37,322 mt of white corn. The top destinations were Mexico with 119,044 mt -- 87,222 mt of yellow corn and 31,822 mt of white corn -- Saudi Arabia with 83,607 mt of yellow corn, and Colombia with 82,072 mt -- 76,572 mt of yellow corn and 5,500 mt of white corn

The amount of US corn inspected leaving the US Pacific Coast was 703,554 mt of yellow corn. The top destinations were Vietnam with 266,484 mt, South Korea with 208,118 mt and Japan with 160,581 mt.

US corn that was inspected leaving the Interior region was 239,353 mt -- 229,574 of yellow corn and 9,779 mt of white corn -- with the top destination being Mexico with 178,665 mt of yellow corn and 9,779 mt of white 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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