Strong U.S. Corn Sales to Egypt
Exports to Egypt have been booming all year.
Compiled by staff
Published: Mar 7, 2011
The U.S. Grains Council reports that sales of U.S. corn to Egypt have been strong in recent weeks as the country recovers from downtime and shipping delays resulting from the demonstrations and political unrest in the nation in late January and February. Dr. Hussein Soliman, USGC director in Egypt, says local corn prices were up considerably during the unrest. Now, as ports catch up and shipments resume, corn prices are returning to a more normal level.
The Foreign Agricultural Service reports that sales last week were up considerably from one year ago with 609,000 metric tons of corn sold to Egypt. Despite the unrest, U.S. corn sales to Egypt have been booming the entire marketing year, reaching 1.6 million tons thus far and well ahead of the 884,000 tons a year ago at this time.
Because corn prices were high during the period of turmoil, livestock feeders not already feeding U.S. distiller's dried grains with soluble, were enticed to incorporate the ingredient into their rations. Terry Vinduska, chairman of the U.S. Grains Council says end-users in all sectors are using U.S. DDGS now, including the dairy and beef sectors that were limited before.
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