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During the week ending January 5, 40 ocean-going grain vessels were loaded in the Gulf, up 5 percent from the same week last year. Sixty-one vessels are expected to be loaded within the next 10 days, 19 percent less than the same period last year.

During the week ending January 6, the ocean freight rate for shipping bulk grain from the Gulf to Japan was $56 per metric ton (mt), unchanged from the previous week. The cost of shipping from the Pacific Northwest to Japan was $29 per mt, 2 percent less than the previous week.

The January World Agricultural Supply and Demand Estimates (WASDE) report indicates an increase for corn exports in 2011/12 compared to the December estimate. Corn exports are expected higher because of unfavorable growing conditions in South America. WASDE also indicates a decrease in soybean exports from the December projection. Johnny.Hill@ams.usda.gov