U.S. corn exports currently experience a pleasantly good demand from South America. Thus, the market share lost in Asia and particularly in China can be compensated. In the 2015/16 Vermarktungssaison exports from the United States are estimated to 2 million tons higher at 48.26 million tonnes due to the increased buying interest from Colombia and Peru. Low prices are the cause of better demand from all over South America. Currently, the corn futures on the CBoT close to a 5-year low due to the very large global production record.
The U.S. are sellers however in a price war with suppliers from other regions of surplus. While you U.S. September 2014 until 7 may 2015 5 per cent had fallen corn exports in the period, the shipments have risen after Peru in 80% over the same period. The USDA estimates that the shipments will remain until far in the upcoming Vermarktungssaison, which starts on September 1, 2015, after Peru and can reach more than 2 million tons.
Usually Peru buys his import corn in Argentina, but the export duties from the neighbouring country favor supplies from the United States. U.S. shipments could arrive in Colombia, where the poultry farming is steadily increasing, on a record volume of 4.5 million tons. The population eats also more and more pork at the expense of rice and beans.
Cheap corn quotations on the world market in Argentina and Brazil and the Ukraine you threaten U.S. dominance in traditional Asian sales regions such as Korea and Taiwan. Taiwan recently moved into 130,000 tons of maize from Brazil at a price of $10 per tonne under the U.S. offers lay. China's purchasing - China was seen as the largest growth market - will take in the coming season only 500,000 tons of corn from the United States. There were still 3 million tonnes in 2013/14. A large Chinese crop can almost cover the domestic demand. Sales from the United States to China is virtually sealed.