Zen-Noh, Japan's largest corn buyer, suspended the operation of its grain export facility in the U.S. Gulf as Hurricane Gustav approached the region, threatening shipments from the world's biggest exporter.
The National Federation of Agricultural Co-operative Associations, known as Zen-Noh, shut down the Convent facility in Louisiana, which is capable of storing 4.2 million bushels, after workers completed evacuating Sunday, Hidetoshi Yamada, a Zen-Noh spokesman, said Monday. The hurricane was expected to make landfall later Monday.
Suspension in shipments from the U.S. Gulf, the largest export base for corn and soybeans, may spur importers including Japan and South Korea to seek alternative supplies if shutdowns are prolonged. Japan, the world's-largest corn importer, buys more than 90 percent of its foreign supply from the U.S.