There is a lot of Canadian corn coming into the United States. Reuters reports a record crop in Ontario last year combined with the drought in the U.S. could result in 1 million metric tonnes of Canadian corn moving south during this marketing year. That would be the second-largest export year for Canada exceeded only by the 1.7 million tonnes sold two years ago when Europe had a bad crop.
Canadian exporters say corn is flowing into Michigan and New York and expect that pace to pick up substantially when the Great Lakes open to shipping later this month. Western Canadian corn has even been moving to terminals along the lakes.
Agriculture Canada had predicted corn plantings would back-off a bit this year but given the strong export market that may change.
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