Middle East and North Africa Shifting Corn Demand to US

outstanding sales and accumulated exports of U.S. corn to North Africa and the Middle East - See more at: http://grains.org/index.php/chart-of-the-week/4581-middle-east-and-north-africa-shifting-corn-demand-to-us#sthash.g2WWdaOj.dpuf

This week's U.S. Grains Council Chart of the Week shows outstanding sales and accumulated exports of U.S. corn to North Africa and the Middle East for the past three marketing years, which began Sept. 1, through Mid-April for each listed year. With U.S. corn returning to more normal pricing in the 2013/2014 marketing year, Egypt, Israel, Morocco and Algeria have all returned to purchasing U.S. corn. Also, Tunisia has once again begun sourcing corn from the United States.

In a little over six months of the 2013/2014 corn marketing year, U.S. corn accumulated exports and outstanding sales to North Africa and the Middle East totaled more than 2.8 million metric tons (110 million bushels) compared to 204,500 tons (8 million bushels) in the 2012/2013 marketing year and 1 million tons (40 million bushels) in marketing year 2011/2012.

The chart shows separate slices for combined exports and outstanding sales for the U.S. markets in North Africa and the Middle East. All markets have purchased more U.S. corn this year, with Egypt leading the way, followed by Saudi Arabia. Egypt alone has purchased more than 1.8 million tons (70.9 million bushels) of U.S. corn which is nearly 65 percent of the region's demand for U.S. corn.