U.S. Corn Exports Down, But Sales Continue

With 96 percent of this year’s U.S. corn crop harvested as of Nov. 15 according to the U.S. Department of Agriculture’s (USDA’s) weekly Crop Progress report, U.S. farmers are now turning toward the market, looking for pockets of demand to sell their bountiful crop.

This season’s harvest of grain corn is predicted to be 345.5 million metric tons (13.6 billion bushels) with 45.7 million tons (1.8 billion bushels) destined for export, according to the USDA World Agricultural Supply and Demand Estimates (WASDE) report.

Chart of Note

Ethanol Export Successes Offer Platform for More Promotion

This week’s U.S. Grains Council’s (USGC’s) Chart of Note illustrates that the volume of ethanol exports for September are up 6 percent from the previous year – particularly welcomed news since last year’s total ethanol exports of 870 gallons were the second largest on record for quantity sold.

These numbers highlight the growing importance of the ethanol export promotion efforts being undertaken around the world by the Council and partners Growth Energy, the Renewable Fuels Association (RFA) and USDA’s Foreign Agricultural Service (FAS).

Word from the Ground

Grain Trade Watches for Impacts of Argentine Election

By: Manuel Sanchez, U.S. Grains Council Manager of Global Trade

Argentine farmers are keeping a close eye on the upcoming runoff elections in their country, as the outcome will have a direct impact on their bottom lines this coming harvest. Both candidates - Mauricio Macri and Daniel Scioli - in the election have expressed interest in working on policies to improve Argentina's agricultural competitiveness and to encourage farmers to boost production.