U.S. Corn Exports Expected to Reach 47 Million Tons in 2015
Japan, Mexico, Colombia, South Korea and Peru top the list of export markets for U.S.-grown corn this year, according to the U.S. Grains Council in Washington, D.C.
The U.S. Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) report for August projected U.S. corn exports for the year at 47 million metric ton—13 percent of total U.S. corn production.
Japan is once again on track to be the largest importer of U.S. corn having already imported 12 million tons with Mexico a close second having imported 10.9 million tons far this year. Colombia rounds out the top three with purchases of 4.5 million tons this marketing year.
The latest marketing year for corn began on September 1 and ended on August 31. Final figures for the 2015 MY are usually made available within a month of the end of the period.
Representing 85 percent of sales, these export markets “are important to supporting demand and, ultimately, the prices farmers receive for their harvests,” the industry group said.
Of the top 10 importers, it said in a statement, “three are located in Asia, five in Latin America and two in the MENA (Middle East/North Africa). In addition, of these top 10 markets, five are free trade agreement partners with the U.S.