Ethanol, DDG Exports Strong in August

By Rhett Montgomery, DTN Lead Analyst

OMAHA (DTN) -- The U.S. Census Bureau said Wednesday U.S. exports of goods and services totaled $271.8 billion in August, up $5.3 billion from July. August imports totaled $342.2 billion, 3.2 billion less than July. The resulting trade deficit of $70.4 billion for August was down $8.4 billion from July. USDA later used Census Bureau data to provide more details for exports of ethanol, biodiesel and distillers grains.

USDA said U.S. exports of ethanol totaled 141.2 million gallons in August, up from 136 million gallons in July, up 41% from a year ago, and a record for the month of August. Canada was the top destination in August, accounting for 40% of total exports and was followed by the United Kingdom. For the first eight months of 2024, ethanol exports are up 38% from a year ago.

U.S. exports of biodiesel totaled 81,957.1 metric tons (mt) in August, down from 88432.8 mt in July but up 5% from last August. Canada was the top destination in August, accounting for 91% of all U.S. exports and was followed by Peru. Year-to-date through August, biodiesel exports are down 28%.

U.S. exports of distillers grains totaled 1,119,768 mt in August, up from 1,090,004 mt in July and up 19% from a year ago. South Korea was the top destination in August, taking 15% of U.S. exports and was followed by Mexico and Turkey. In the first eight months of 2024, distillers grains exports were up 15% from a year ago.

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