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.
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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