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Japanese buyers return to US corn

20-03-2014 | |
Japanese buyers back for US corn
Japanese buyers back for US corn

Japan is back on top as an importer of US corn, figures show that for this marketing year (2013/2014) exports hit 8.4 million metric tons (331 million bushels).

The crippling drought in the US during 2012/2013 drove the corn export prices to uncompetitive levels, prompting Japanese buyers to look to South America as a corn source. However in 2013, US corn production rose to 355.3 million tons (14.0 billion bushels) which was an all-time high, with an average yield of 160.4 bushels per acre, the second highest recorded. Prices have responded, and Japanese buyers are returning.

“Japan is back as a top US corn importer and was the top US corn importer for January,” said Tommy Hamamoto, US Grain Council’s director in Japan. “This is excellent news for the continuation of a solid trade relationship between these two countries.”

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