This week’s U.S. Grains Council’s (USGC) Chart of Note illustrates the significant market share that U.S. corn has regained in the Egyptian market compared to last year.
Following the United States’ record 2013 corn production of 355.3 million metric tons (13.9 billion bushels), U.S. corn sales to Egypt rebounded to more than 3 million tons (118 million bushels) from January to November 2014, compared to almost nothing during the 2013 calendar year. As the chart shows, this has made the United States the largest supplier of corn to the Egyptian market this year.
U.S. corn has been arriving in Egypt regularly each month in the 2014 calendar year, with no Ukrainian corn or other Black Sea-origin corn coming in during the summer months. However, Black Sea-origin corn did come in this fall as new crop Ukrainian corn became ready for export.
The Council will work to carry this momentum into 2015 as the predicted record 2014 U.S. corn crop of more than 365 million tons (14.4 billion bushels) hits the export channels.
