USDA Reports Marketing-Year High in Corn Exports Last Week
Export commitments are running 19% ahead of where they were last year at this time.
Compiled by staff
Published: Sep 5, 2006
Good news keeps rolling in regarding U.S. corn exports as the USDA reported a marketing-year high of 1.488 million metric tons last week. This level is 26% above last week and 22% over the prior 4-week average.
Primary destinations were Japan (465,000 metric tons or 18.3 million bushels), Mexico (230,300 tons or 9 million bushels). South Korea (169,000 tons or 6.65 million bushels), Egypt (127,800 tons or 5 million bushels) and Colombia (93,400 tons or 3.67 million bushels).
Additionally, export commitments are running 19% ahead of where they were last year at this time. "We're seeing demand start building again in Egypt as fears of avian influenza subside," says Chris Corry, U.S. Grains Council senior director of international operations. "Consumption of poultry there is definitely on the rise again - so much so that Egypt is now importing poultry meat, something they have never done before."
Council programming efforts in Egypt are also encouraging imports of distiller's dried grains with solubles. The country first imported 6,000 tons of DDGS in March and they have contracted more. "Yes, we are seeing that corn sales are robust but we're also seeing DDGS moving into the market in the future," Corry adds.
Egypt imported 4.1 million tons (161 million bushels) of U.S. corn in 2004/05, ranking them behind only Japan and Mexico in terms of sales.
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