US corn inspected for export up 6.2% on week, down 4.4% on year: USDA

06.02.2018

The amount of US corn inspected for export in the week that ended February 1 rose 6.2% week on week to 1.074 million mt, Department of Agriculture data showed Monday.

The amount of corn inspected was 4.4% lower than the 1.123 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, with 43.4% of the total inspected for export, compared with 35.8% for corn, according to USDA data.

In the 22 weeks since the current marketing year began on September 1, the amount of US corn inspected for export totaled 14.841 million mt, 32.6% less than in the same period in the previous marketing year and 30.14% 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 521,356 mt (518,437 mt of yellow corn and 2,919 mt of white corn). The top destinations were Japan with 249,033 mt of yellow corn and 2,919 mt of white corn; Peru with 78,269 mt; and Colombia with 59,825 mt.

The total amount of US corn that was inspected leaving from the US Pacific Coast was 396,226 mt. The top destinations were Japan with 256,978 mt and South Korea with 139,248 mt.

The total amount of US corn that was inspected leaving from the Interior region was 156,286 mt (152,294 mt of yellow corn and 3,992 mt of white corn). The top destination was Mexico with 125,505 mt of yellow corn and 3,992 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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