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.

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.