US corn inspected for export up 37.5% on week, down 6.5% on year: USDA

30.01.2018

The amount of US corn inspected for export in the week that ended January 25 rose 37.5% week on week to 993,506 mt, Department of Agriculture data showed Monday.

The amount of corn inspected was 6.5% lower than the 1.063 million mt inspected for export in the year-ago week, according to the USDA's weekly Federal Grain Inspection Service report.

Most of the US' grain exports continued to be soybeans, but this week not by much, with 39% of the total inspected for export, compared with 35.1% for corn, according to USDA data.

In the 21 weeks since the current marketing year began on September 1, the amount of US corn inspected for export totaled 13.737 million mt, 34.2% less than in the same period in the previous marketing year and 28.1% of the USDA's 48.898 million mt projection for the year.

The data showed the total amount of US corn that was inspected leaving from the US Gulf Coast was 602,999 mt (545,799 mt of yellow corn and 57,200 mt of white corn), where the top destinations were Colombia with 197,226 mt of yellow corn and 17,962 mt of white corn; Japan with 88,158 mt; and Mexico with 39,059 mt of yellow corn and 31,484 mt of white corn.

The total amount of US corn that was inspected leaving from the US Pacific Coast was 291,912 mt, where the top destinations were Japan with 228,840 mt and South Korea with 63,048 mt.

The total amount of US corn that was inspected leaving from the Interior region was 98,595 mt (95,003 mt of yellow corn and 3,592 mt of white corn), where the top destination was Mexico with 78,943 mt of yellow corn and 3,592 mt of white corn.

US corn inspected for export is corn that has been sold and is inspected as it is being loaded 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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