United States-World corn prices.

UNITED STATES-World Corn: Export Prices Up, Weak Overseas Demand

Domestic: U.S. corn export prices averaged $168 per ton in March, up slightly from the prior month. U.S. sales and shipments picked up despite brisk competitor shipments, and continued weak demand overseas. Sorghum, on the other hand, was up about $10 per ton from February amidst strong shipments during the month.

CORN TRADE CHANGES IN 2008/09

Selected Exporters

• Brazil is down 500,000 tons to 9.5 million on slow sales and shipments, price competitiveness from other suppliers (United States, Russia, and Ukraine) and continued sluggish global demand.

• Russia and Ukraine are both boosted to record levels (1.0 million and 4.5 million tons, respectively) on brisk trade to North Africa and the Middle East.

Selected Importers

• Chile imports are boosted 200,000 tons to a record 1.8 million based on reduced crop prospects and firm demand.

• Indonesia is slashed 400,000 tons to just 100,000, the lowest in nearly 20 years, with ample domestic supplies, soft demand, and increased use of distillers dried grains (DDG).

• Iran is raised 200,000 tons to 2.7 million in light of last year’s smaller crop and reports of brisk import demand.

• Mexico is cut 500,000 tons to 7.0 million because of stagnant livestock production, slow import demand, and increased use of DDGs.

• Venezuela is raised 200,000 tons to 750,000 with strong U.S. sales and shipments.