Nov. Ethanol, DDG Exports Down From '16

US November Biodiesel Exports Down 73% From Previous Year

OMAHA (DTN) -- U.S. exports of goods and services totaled $200.2 billion in November, up $4.4 billion from October, the U.S. Census Bureau reported on Friday, Jan. 5. Imports totaled $250.7 billion, up $6.0 billion from October, resulting in a higher trade deficit of $50.5 billion for the month. USDA later provided more details for exports of ethanol, biodiesel, and distillers grains.

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USDA said that U.S. exports of ethanol totaled 107.2 million gallons in November, down 17% from a year ago. Surprisingly, Brazil was the top destination in November, accounting for 26% of exports, followed by Canada and India. U.S. ethanol exports were up 13% in the first 11 months of 2017 from a year ago, but Friday's report was slightly bearish for corn and ethanol prices, said DTN Analyst Todd Hultman.

U.S. exports of biodiesel totaled a mere 5,411.7 metric tons in November, down 73% from a year ago and perhaps balancing out October's 91% gain. Once again, Canada was the top destination for U.S. biodiesel exports in November, taking 53% of the total, followed by Peru in second and the Netherlands as a distant third. Even with November's lower exports, the year-to-date total in 2017 is still up 8% from a year ago. Friday's report was a bearish factor for biodiesel and soybean oil prices, Hultman said.

U.S. exports of distillers grains totaled 875,302 metric tons in November, down 11% from a year ago. Mexico was the top export destination again in November, accounting for 16% of the total and followed by Vietnam and three other Asian nations. In the first 11 months of 2017, exports of U.S. distillers grains were down 3% from a year ago. So far, China remains disinterested, listed as the 18th largest export destination in November. Friday's report was slightly bearish for distillers grains, Hultman said.


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