The U.S. Department of Agriculture (USDA) lowered its export projections for corn and wheat in the 2018-2019 harvest season amid slumping grain volumes and Midwest rail operations coping from last month’s record flooding, reports FreightWaves.
In USDA’s World Agricultural Supply and Demand Estimates report that it updates monthly, USDA estimated that U.S. corn exports will total 945 million bushels in 2018-2019, compared with its March estimate of 965 million bushels.
These estimates are higher than the 901 million bushels exported in 2017-2018 but lower than the nearly 1.1 billion bushels exported in 2016-2017. T
U.S. corn exports are projected to total 2.3 billion bushels, down from estimates in March of nearly 2.38 billion bushels. The most recent estimate is down from the 2.4 billion bushels exported in 2017-2018 but in line with the roughly 2.3 billion bushels exported in 2016-2017.