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US corn exports to total $ 9 billion

Corn exports from the United States will total about $ 9 billion in the annual cycle ending in September 2021, estimated the Department of Agriculture (USDA).

The amount implies an increase of 700 million dollars compared to the estimated closing of corn exports for the 2020 season.

Corn is a staple food in many countries and has multiple applications as animal feed and industrial uses. Its great genetic versatility allows it to thrive in tropical, subtropical and temperate climates.

The USDA projects that by the 2020 cycle, corn exports will reach $ 8.3 billion, an increase of $ 300 million over the price cycle.

As a background, corn is the only cereal that was systematically cultivated by Native Americans. Christopher Columbus found that corn was grown in Haiti and brought it from America to Europe and was later brought by the Portuguese and other Europeans to Africa and Asia, during the 16th and 17th centuries.

Currently, the United States ranks as the largest producer and exporter of corn in the world, having among its main destinations Mexico, Japan, Colombia and Canada.

Corn exports

More broadly, the U.S. foreign grain and feed sales for fiscal 2020 are forecast at $ 29.9 billion, up $ 500 million from the May forecast.

In terms of volume, US corn exports would total 47.5 million tons in the 2020 season and 56.5 million tons in the 2021 cycle.

The United States exported corn for $ 8 billion in calendar year 2019, followed by Brazil ($ 7.4 billion), Argentina ($ 6 billion) and Ukraine ($ 5.2 billion).

 

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