U.S. Corn Imports Ramping Up Into Southeast

September 27, 2012 10:59 AM
 

Hog and turkey producer Prestage Farms Inc. and two other livestock companies have signed deals for 750,000 metric tons (MT), or nearly 30 million bu., of Brazilian corn, according to John Prestage, senior vice president of Prestage Farms.

The purchases were made jointly by Prestage Farms, Murphy-Brown LLC (a subsidiary of Smithfield Foods Inc.) and poultry company Nash Johnson & Sons’ Farms Inc. — partners in Wilmington Bulk LLC.

Prestage says the companies are trying to buy more corn and other feedgrains from South America and other sources amid tight U.S. supplies and the high costs of moving grain via rail into the Southeast.

Perspective: This will relieve some of the supply stresses in the North Carolina market, but the imports don’t solve the supply-side problems for the 2012-13 marketing year as USDA already predicts imports of 75 million bu. in the 2012-13 marketing year.

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close