US 2012-13 corn exports down to lowest level in decades

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Publish time: 7th January, 2014      Source: www.cnchemicals.com
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January 7, 2014

   

   

US 2012-13 corn exports down to lowest level in decades

   

   

   

For the 2012-13 season, US corn exports fell to just over 17.8 million tonnes, the lowest level in decades, which has placed the country to third place among world exporters with Brazil's exports at 22 million tonnes and Argentina at 19 million tonnes.

   

   

Only a few years ago the US accounted for more than 60% of world trade with Argentina in second place at 15%. Late in 2013, China's rejection of US corn and dried distiller grains (DDG) exports had an adverse impact on crop markets.

   

   

It is impossible to know how things will turn out in 2014, but another year of accumulating corn stocks seems likely. For 2013-14, production is expected to exceed demand by about 25.4 million tonnes, even with the national average yield below trend. We could add about another 25.4 million tonnes in 2014 if yields are near trend.