The amount of US corn inspected for export in the week that ended Thursday totaled 501,541 mt, down 47.3% from the previous week, the lowest weekly volume since November 9, 2017, Department of Agriculture data showed Monday.
The total in the most recent reporting period was 41% below the year-ago week, according to the USDA's weekly Federal Grain Inspection Service report.
The USDA's Grains Inspected for Exports weekly report was released despite the US Federal Government shutdown as it is financed through available funding by user fees.
Soybeans had the largest share in US grain exports last week, at 45.9%. Corn, at 34.2%, was second, followed by wheat at 17.7%.
In the 124 days of the 2018-2019 marketing year, the amount of US corn inspected for export totaled 18.455 million mt, 61.3% above the same period in the previous marketing year and 29.6% of the USDA's projection of 62.233 million mt for the current marketing year.
US export shipments were below the weekly pace needed to reach the USDA's estimate for exports in the ongoing marketing year.
Data showed the amount of US corn inspected leaving the US Gulf Coast at 299,020 mt: 277,200 mt of yellow corn and 21,820 mt of white corn. The top destinations were Japan, with 126,815 mt of yellow corn; Peru with 90,051 mt of yellow corn; and Guatemala with 23,287 mt of yellow corn; and 11,920 mt of white corn.
The amount of US corn inspected leaving the US Pacific Coast was 112,975 mt of yellow corn, all of them for Japan destinations.
US corn inspected leaving the Interior region totaled 82,446 mt: 74,563 mt of yellow corn and 7,883 mt of white corn. The top destinations were Mexico with 64,991 mt of yellow corn and 7,883 mt of white corn, and Taiwan with 7,761 mt of yellow corn.
US corn inspected for exports is corn that has been sold and inspected during loading at export locations for overseas shipment. Traders consider the pace needed to meet the USDA projection as an indicator of demand.
Corn is the primary feedstock for ethanol production in the US and is the main competitor for dried distillers grains.
