OMAHA (DTN) -- Early Wednesday, the Commerce Department said the U.S. trade deficit fell from $47.0 billion to $40.4 billion in March, the result of an $8.1-billion drop in monthly imports and a $1.5-billion drop in exports.
Related to the grain sector, USDA said that U.S. ethanol exports totaled 95.3 million gallons in March, up 14% from a year ago. China was the top destination, accounting for 39% of March's exports with Brazil and Canada next in line. So far in 2016, U.S. exports of ethanol are up 5% from a year ago.
U.S. exports of biodiesel totaled 32,921 metric tons in March, up 23% from a year ago with Canada taking the lion's share, some 87% of all exports for the month. Year-to-date, U.S. biodiesel exports are off to a big start, up 40% from a year ago.
U.S. exports of distillers grains totaled 822,945 metric tons in March, down 11% from a year ago. Mexico was the top destination for U.S. distillers grains in March, taking 17%. China and South Korea were the next two most popular destinations, but China's March total was down 74% from a year ago. Year-to-date U.S. exports of distillers grains are down 1% from a year ago.
Wednesday's export totals from USDA were slightly bullish for corn and bullish for soybean oil.
Todd Hultman can be reached at firstname.lastname@example.org
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