US corn inspected for export up 9% on week: USDA

25.04.2017

The amount of US corn inspected for export in the week ended Thursday rose 9% on the week to 1.454 million mt, US Department of Agriculture data showed Monday.

The amount of corn inspected was 27% higher than the 1.144 million mt inspected for export a year earlier, according to the USDA's weekly Federal Grain Inspection Service report.

In the 33 weeks since the current marketing year began September 1, the total amount of US corn inspected for export is 37.341 million mt, 62% above the previous marketing year and already 66% of the USDA's 56.518 million mt projection for the year.

"Export pace continues strong even though the sales report last week was not," a market participant said.

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 (202,103 mt of yellow corn and 3,032 mt of white corn), Peru (181,364 mt) and Saudi Arabia (133,802 mt), the data showed.

The top destinations for corn that was inspected leaving from Pacific Coast ports were Japan (226,680 mt), Taiwan (123,115 mt of yellow corn) and South Korea (122,544 mt of yellow corn and 367 mt of white corn).

The top destination for corn that was inspected leaving from the Interior region was Mexico (146,129 mt of yellow corn and 2,894 mt of white corn).


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