Through the end of December, US corn export sales were sitting at a little over 16 million tonnes, with actual shipments of 10.66 million tonnes.
The problem is that these values are down 18% and 34% respectively. The big differences are reflected in a few countries mainly:
• Mexico: 5.21 million tonnes (-12% compared to 5.94 million tonnes sold at this time a year ago)
• South Korea: 815,800 tonnes (-31% from 1.12 million tonnes)
• Columbia: 483,500 tonnes (-53% from 1.035 million tonnes)
• Taiwan: Export sales of 158,400 tonnes (-84% compared to 983,200 tonnes)
• Saudi Arabia: 65,000 tonnes (-75% from 260,000 tonnes)
• Malaysia: 5,900 tonnes (-96% from 136,300 tonnes)
The USDA is currently expecting the US to ship out a little under 49 million tonnes of corn in the 2017/18 crop year. This would be a drop of 16% from last year’s 58.2 million tonnes sailed (the second-largest ever though)
It’s a different story in Canada though!
Corn exports are tracking 57% ahead of last year at 375,300 tonnes. Much like the ending stocks, the USDA and Ag Canada differ in what the total marketing-year export target is for Canadian corn.
Ag Canada is more optimistic at 1.5 million tonnes getting shipped out of the Great White North, whereas the USDA is only expecting 1.3 million tonnes to be exported.