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Dollar weighs on corn export movement

The Vice President of the U.S. Grains Council says corn exports in the new marketing year are off to a slow start.

Cary Sifferath tells Brownfield once the bulk of harvest is underway movement should pick up.

“We’re seeing the strength of the U.S. dollar versus other currencies, specifically our South American competitors in Brazil and Argentina, is affecting our competitiveness,” he says.

He says ethanol exports to Canada show promise as more provinces work to increase ethanol blending levels.

“Every increase of blending that is needed in Canada is mainly going to be met with imported ethanol from the U.S.,” he explains.

Sifferath says Canada is the number one export market for ethanol and grain exports overall are up as some regions there face drought issues.