OMAHA (DTN) -- The U.S. Census Bureau said Thursday that U.S. exports of goods and services totaled $192.0 billion in May, up $0.9 billion from April, revised. Imports totaled $238.5 billion, down $0.2 billion from April. USDA later provided more details for exports of ethanol, biodiesel and distillers grains.
USDA said that U.S. exports of ethanol totaled 119.2 million gallons in May, up 75% from a year ago. Even though Brazil is harvesting its second crop of corn, Brazil was the top destination for May's exports, accounting for 54% of the total and followed by Canada at 26%. Using USDA's revised figures, U.S. ethanol exports were up 23% in the first five months of 2017 from a year ago. "Thursday's report was slightly bullish for corn and ethanol prices," said DTN Analyst Todd Hultman.
U.S. exports of biodiesel totaled 33,725 metric tons in May, down 29% from a year ago. Canada was the dominant destination for U.S. biodiesel exports in May, taking 92% of the total. In the first five months of 2017, U.S. biodiesel exports were down 16% from a year ago. "Thursday's report was slightly bearish for biodiesel and soybean oil," Hultman said.
U.S. exports of distillers grains totaled 742,043 metric tons in May, down 28% from a year ago. Mexico was the top export destination in May, accounting for 18% of the total while Turkey followed with 14%. China was sixth on the list, taking just 5% of the total. In the first five months of 2017, exports of U.S. distillers grains were up 8% from a year ago. "Thursday's report was bearish for distillers grains," Hultman said.
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