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With only two months left in the 2016-17 marketing year, exports by this measure that is inclusive of feed grains and the products they produce could set a new record high, according to the USGC.
U.S. ethanol exports already have reached a new all-time high at 1.15 billion gallons this marketing year, according to data collected by the U.S. Census Bureau, surpassing the 1.09 billion gallons exported in 2011-12. Ethanol exports to Brazil more than quadrupled to 438 million gallons, even though purchases are expected to slow in coming months.
Exports of U.S. ethanol to Canada, a key partner through the North American Free Trade Agreement (NAFTA), also increased to 263 million gallons, a 5% growth compared to the same time the year prior. India set a new record for U.S. ethanol purchases, more than doubling year-over-year to 116 million gallons.
According to the USGC’s analysis, exports of U.S. corn increased 36% year-over-year to 49.9 million tonnes (1.96 billion bushels), already exceeding export totals for the last five marketing years.
U.S. corn exports to Japan, the traditional top customer of U.S. corn, are up 48% compared to the same time the year prior to 11.5 million tonnes (453 million bushels), surpassing last year’s total with two months of sales remaining. The USGC noted U.S. corn sales to several countries already have outpaced historical sales, including a new record set for exports to Saudi Arabia, the highest exports to Taiwan since the 1994-95 marketing year and the most corn exported to South Korea in the last 10 marketing years.
Sales of U.S. DDGS dropped significantly from the two largest traditional markets — China and Vietnam. While this void had a substantial impact, it left ample supply for other world buyers to purchase U.S. DDGS. As a result, overall purchases are only just behind last year’s export pace at 9.32 million tonnes. In contrast, exports to Mexico, this year’s top market, are up 9% year-over-year to 1.69 million tonnes, the USGC said.
Turkey now ranks as the second largest market for U.S. DDGS with exports that nearly doubled year-over-year to 1.11 million tonnes, the largest amount since the country started purchasing DDGS in 2004-05. U.S. DDGS exports to South Korea and the E.U. also set new sales records at 847,000 tonnes and 792,000 tonnes, respectively.
In contrast, U.S. barley exports are down significantly, driven by a decline in sales to the top traditional customer, Mexico. But, exports to Canada and Japan jumped substantially, both already exceeding their total purchases last marketing year, to 62,700 tonnes (2.88 million bushels) and 22,900 tonnes (1.05 million bushels), respectively, the USGC said.
Export sales of U.S. sorghum also decreased significantly thus far in the marketing year. However, China kept its status as the largest customer with 3.94 million tonnes in purchases from September-June. U.S. sorghum exports to Japan more than doubled to 182,000 tonnes, the highest amount in the last five years, while Mexico increased purchases of U.S. sorghum 6% year-over-year to 524,000 tonnes, the USGC said.