U.S. Grain Exports Seen Highest in Five Years by SSY
(Corrects data attribution in second paragraph of story published June 19. Corrects Japan imports increase in fourth.)
Combined U.S. exports of wheat, coarse grains and soybeans are poised to reach the highest level since 2007 in the fourth quarter after ample harvests, said Simpson, Spence & Young Ltd.
Shipments will come to 42.6 million metric tons, the London-based shipbroker said in a report e-mailed today. Bumper crops of corn, wheat and soybeans will lift exports by 12 percent from the prior period to 131.2 million tons for the 2012-13 marketing year through next June, it said, citing figures from the U.S. Department of Agriculture. That would still fall short of the 134.5 million tons shipped in 2010-11, the report showed.
The predicted exports for the calendar year’s final three months would be this century’s second-largest after the 44.1 million tons shipped in 2007’s final quarter, according to SSY.
Global imports of coarse grains and wheat by Japan will rise by 1.3 million tons to 24.9 million for 2012-13, SSY estimated. Coarse grains include barley and sorghum as well as corn.
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