Oct. Ethanol Exports Up From Year Ago

OMAHA (DTN) -- The U.S. Census Bureau said Tuesday that exports of goods and services in October totaled $186.4 billion, down $3.4 billion from the previous month. Imports totaled $229.0 billion, up $3.0 billion from the previous month. USDA later filled in more details for exports of ethanol, biodiesel and distillers grains.

USDA said that U.S. exports of ethanol totaled 131.6 million gallons in October, up a whopping 88% from a year ago. Brazil was the top customer in October, accounting for 32% of all exports while Canada was number two. Year-to-date ethanol exports in 2016 are up 21% from a year ago. "Tuesday's report was bullish for corn and ethanol," said DTN Analyst Todd Hultman.

U.S. exports of biodiesel totaled 13,402 metric tons in October, down 41% from a year ago. Canada was again the top customer for biodiesel exports in October, taking 32% of exports while Mexico ran a close second. In the first 10 months of 2016, U.S. biodiesel exports are down 1% from a year ago. "Tuesday's report was slightly bearish for biodiesel and soybean oil," Hultman said.

U.S. exports of distillers grains totaled 1.005 million metric tons in October, down 3% from a year ago. Mexico was the top export destination in October, accounting for 13% of total exports with China and Vietnam a close second and third. So far in 2016, U.S. exports of distillers grains are down 11% from a year ago. "Tuesday's report again confirmed this year's weaker export demand and was slightly bearish for distillers grains," Hultman said.

(BM/AG)

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