According to today's USDA Grain Transportation Report, for the week ending March 16, total unshipped export sales of corn to China, which indicate future transportation demand, totaled more than 2.4 million metric tons (mmt).
This total marked a more than sixfold jump from the previous week’s total of 375,000 metric tons (mt).
According to USDA’s Foreign Agricultural Service, from March 17 to March 29, reported unshipped corn export sales to China totaled 994,000 mt, signaling additional future transportation demand to China.
The increased Chinese purchases of U.S. corn are due to a drop in U.S corn futures prices, uncertainty over future exports from Ukraine, and improved shipping conditions along the Mississippi River.
Despite increased sales, year-to-date unshipped exports to China are still 58 percent below the same time last year.