US Corn Exports Lagging Behind Last Five Years
July 20, 2020
The latest USDA FAS (Foreign Agriculture Service) release on Thursday, July 16, 2020, for data up through Thursday, July 9, showed that after several weeks of strong exports, U.S. corn volumes dropped below five-year average levels and are considered to remain that way as South American crops dominate the export markets.
In the FAS weekly export sales report, corn exports dipped for the week ending July 9 as Brazil’s corn crop begins to take over export channels. It was the second straight week of corn export declines as volumes dropped 2.8 million bushels from the previous week to 39.9 million bushels, as it appears that time has run out on seasonal export strength. The chart below plots the accumulated exports of corn during this 2020/2021 market, 1.42 billion bushels, below the last six at this time.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > FAS > Feed Grains > Corn > Accumulated Export.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.