OMAHA (DTN) -- U.S. exports of goods and services totaled $200.9 billion in January, down $2.7 billion from December, the U.S. Census Bureau said on Wednesday. Imports totaled $257.5 billion, down slightly on the month and resulted in a higher trade deficit of $56.6 billion for January. 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 88.3 million gallons in January, down 27% from a year ago. Brazil was the top destination again in January, accounting for 46% of exports, followed by Canada at roughly half of Brazil's amount. Wednesday's report offered a slightly bearish influence in 2018 for corn and ethanol prices, said DTN Analyst Todd Hultman.
U.S. exports of biodiesel totaled 14,346.9 metric tons in January, up 137% from a year ago. Peru emerged as the top destination in January, taking 52% of U.S. exports with Canada a distant second. Soybean oil prices are lower late Wednesday morning, but this report of January exports offered soybean oil prices a slight bullish influence, Hultman said.
U.S. exports of distillers grains totaled 898,940 metric tons in January, down 4% from a year ago. Mexico was the top export destination again in January, accounting for 20% of the total and followed by Thailand, Turkey, and South Korea. Wednesday's report was neutral for distillers grains, Hultman said.
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