The amount of US corn inspected for export in the week that ended December 14 dropped 17.2% week on week to 594,281 mt, Department of Agriculture data showed Monday.
The amount of corn inspected was 26.2% lower than the 805,241 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 56.3% of the total inspected for export, compared with 18.9% for corn, according to USDA data.
In the 15 weeks since the current marketing year began on September 1, the amount of US corn inspected for export totaled 9.190 million mt, 40.4% less than in the same period in the previous marketing year and 18.8% of the USDA’s 48.898 million mt projection for the year.
The top destinations for corn inspected leaving from the US Gulf Coast were Mexico with 126,163 mt, Saudi Arabia with 73,556 mt and Peru with 37,491 mt, the data showed.
The top destination for corn that was inspected leaving from Pacific Coast ports was Japan with 106,546 mt.
The top destination for corn that was inspected leaving from the Interior region was Mexico with 163,167 mt of yellow corn and 1,996 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.
(Source – http://www.blackseagrain.net/novosti/us-corn-inspected-for-export-down-17-2-on-week-26-2-on-year-usda)