US corn exports sluggish, USGC says
US corn sales are off to a slow start in the current marketing year.
Cary Sifferath, Vice President of the U.S. Grains Council, says the stronger dollar has reduced demand. “That’s made some of our competitors a little bit more attractable on price,” he said. “And obviously the low water levels on the river system has affected the ability for us to move corn into the export market.”
He tells Brownfield Mexico’s ban on genetically modified corn is another concern. “We’ve seen the Biden administration starting to have some discussions – from USDA and USTR – with their counterparts in Mexico,” Sifferath said. “Hopefully, we can come to a resolution as we move closer to that January 2024 deadline of when it’s supposed to be enacted.”
Sifferath says Mexico has been the top market for US corn for nearly a decade.