U.S. Corn Exports Plummet…
Faced with unprecedented foreign competition, a poor harvest, and strong domestic demand from the ethanol and feed industries, U.S. corn exports are forecast to fall to 22 million tons this year1
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This is a decline of more than 23 million tons from just two years ago and marks the lowest U.S. export volume in 41 years. By contrast, combined shipments from Argentina, Brazil and the Ukraine are forecast at 58.5 million tons, up nearly 27 million tons from just two years ago.Though both U.S. market share and overall export volume have fallen over the past few years, exports are expected to at least partially rebound in 2013/14 assuming normal weather conditions.…But Value-Added Exports Double
Even as corn exports fall, shipments of products produced from corn have rapidly increased.Exports of meats, dairy products (cheese, non-fat dry milk, and whey), corn oil, corn syrup, distillers dried grains, and ethanol have increased from less than $2 billion in the 1990 calendar year to $13 billion in calendar 2012. On a volume basis, exports of these products (excluding ethanol) have doubled over the past five years, from 9 million tons to 18 million tons.
