Through May 10, Q2 2018 U.S. corn exports were up 36 percent from Q2 2017 as exporters keep pushing out corn shipments. Weekly exports will need to remain around 1.3 MMT on average for the rest of the season to hit USDA’s target, a stronger-than-usual pace for the rest of the season that should be fueled by production problems in Brazil.
New-crop (2018/19) corn export sales are still sluggish, a bit behind last year’s already slow sales pace for the new crop. Brazil’s lower production should soon speed up sales for 2018/19 corn, however.
Soybean exports were also strong last week compared to the usual pace this time of year but remained below the weekly average needed to hit USDA’s current projection.
Cumulative U.S. corn exports, by season
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