Push­ing the record on corn ex­ports

Successful Farming - - Q A THE SUCCESSFUL INTERVIEW -

Due to con­tin­ued strong over­seas de­mand, U.S. corn ex­ports could be the sec­ond-largest ever this trade year, says USDA, peg­ging ship­ments at 61 mil­lion tonnes for 2017/2018. The record is 61.8 mil­lion tonnes in 1979/1980.

“Ex­ports by key com­peti­tors (mainly Brazil, Ar­gentina, and, to a lesser ex­tent, Ukraine) have been slower than an­tic­i­pated,” said For­eign Agri­cul­tural Ser­vice an­a­lysts in a July World Mar­kets and Trade re­port. Drought re­duced Ar­gentina’s corn sup­ply, and high prices for corn from Ukraine de­terred its sales. Soy­beans have shoul­dered aside corn at Brazil­ian ports in the rush to cap­i­tal­ize on soy­bean sales to China. U.S. corn ex­ports were far above av­er­age this spring and early sum­mer with a large amount of corn un­der con­tract and wait­ing for ship­ment by the Septem­ber 30 end of the trade year.

“The strength in ex­ports, how­ever, is cur­rently fore­cast to di­min­ish year over year in 2018/2019, as both im­port­ing and ex­port­ing coun­tries ad­just to trade dy­nam­ics,” said the FAS. Its fore­cast for the new trade year is 56.5 mil­lion tonnes.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.