traders and analysts said Jan. 26. U.S. corn export sales have ramped up since the slowest Christmas and New Year’s period in four years. Since Jan. 12, exporters sold nearly 3.3 million tonnes of U.S. corn, the busiest such stretch in two months, U.S. Department of Agriculture data showed.

Traders are growing more optimistic that after a slow start to the U.S. corn export season, shipments may yet reach the USDA projection that seemed doubtful several weeks ago. Low grain prices and abundant supplies have dragged down farm income, making exports vital to prevent a record-large U.S. corn glut from becoming more burdensome. The dollar has dropped to the lowest level in more than three years, making goods such as U.S. corn cheaper for importers using other currencies. For now, the United States is the supplier of choice. Corn shipped from the Gulf Coast and Pacific Nor thwest is about US$3 to US$5 per tonne cheaper than Argentine supplies, and importers in South Korea and Mexico have taken advantage. “We’ve got a window to crank out some corn,” said Tregg Cronin, a South Dakota farmer and analyst, as he delivered corn to an elevator that ships grain via rail to export terminals in the Pacific Northwest. “Our (export) pace is woefully behind.”

Through mid-January, U.S. export sales of 30.4 million tonnes were 22 per cent below a year ago. The USDA expects a 13.5 per cent decline this season. Warmer U.S. weather melted ice on Midwest rivers and raised water levels, allowing corn to move more freely on barges to Gulf Coast terminals. Meanwhile, hot and dry Argentine weather stressed crops in the No. 3 exporter after the United States and Brazil. A stronger peso also slowed grain sales by farmers there, sending export costs higher.

“The Argentinian corn crop is going backwards,” said Dan Basse, president of Chicagobased consultancy AgResource Co. Drought in South Africa, which last year boosted corn sales to top Asian buyer Japan, could slash its harvest area by 18 per cent this year, a Reuters poll showed. Importers also are monitoring Brazilian weather as farmers plant safrinha corn. Expansion of that crop, planted after soybeans are harvested, was key to Brazil’s explosion of corn exports over the past six years.