With a bumper crop of low quality wheat from the EU and GMO disputes ongoing with China, demand for U.S. corn to these markets is expected to drop this year. However, demand from other regions is picking up and can likely offset the loss to U.S. exports. As corn values continue to fall, exports to Asia are set to reach levels not seen since 2011 and U.S. corn exports to Mexico will reach 10 million tons for the first time. In addition shipments to the Middle East and Africa are their highest since 2007 and demand has been steadily increasing from South Korea. The MIST countries of Mexico. Indonesia, South Korea, and Turkey have ranked first in terms of money spent on agricultural imports from the U.S. spending $16.3 billion in the first half of 2014 and spending $1.8 billion on corn alone in the same time period, with only the entire continent of Asia collectively spending more. In 2013 the EU and China combined accounted for 16% of U.S. corn exports but for the years between 2000 and 2010 they accounted for less than 1% leading some to believe that the drop in demand from these two markets is a correction back to historical norms.
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