News & Events
Peru has started the year with surging U.S. sales, filling its import quota for U.S. corn of 709,260 metric tons (27.9 million bushels) in the first seven days of the year. In the 2013/2014 marketing year, Peru finished as the eighth-largest U.S. corn export destination, setting an historic record of more than 1.2 million tons (47 million bushels) imported. And, if the anticipated accumulated exports to Peru are realized, within the first 5 months of the 2014/2015 marketing year, it will have already exceeded the total imports of the 2013/2014 marketing year.
More than 160 Japanese buyers, traders and end-users turned out last week to attend the U.S. Grains Council’s (USGC’s) 2015 Corn Outlook Conference in Tokyo. A blue-chip panel presented a detailed assessment of the U.S. supply and demand situation, key policy factors influencing the evolution of U.S. agricultural trade policy and the U.S. corn market outlook for 2015.
The U.S. Grains Council (USGC) is pleased to announce its dynamic line-up of speakers for the general session during its upcoming 12th International Marketing Conference and 55th Annual Membership Meeting, scheduled for Feb. 9-11, 2015, in Heredia, Costa Rica.
Essential but undramatic tasks – maintaining contacts, managing data and planning meetings, for example – underpin the smooth running of every U.S. Grains Council (USGC) project. This winter during the Council’s 12th International Marketing Conference and 55th Annual Membership Meeting, two USGC staff are being recognized for their long and dedicated efforts in just such assignments.
President Barack Obama called for Congress to approve trade promotion authority (TPA) in his State of the Union address delivered Tuesday, formally requesting what many believe will be the linchpin to securing new markets in Europe and Asia and elevating the issue to the national conversation.
Chart of Note
This week’s Chart of Note illustrates the high quality of U.S. corn at harvest demonstrated in the U.S. Grains Council’s (USGC) 2014/2015 Corn Harvest Quality Report. According to this analysis, most samples from the 2014 U.S. corn crop would grade No. 1 based on the four grading factors of test weight, broken corn and foreign material (BCFM), total damage and heat damage.
Word from the Ground
This week’s U.S. Grains Council’s (USGC) Chart of Note illustrates the importance of the top four Latin American corn importers - Mexico, Colombia, Venezuela and Peru - in the world corn market this marketing year in comparison to expected top 10 markets.
The top four corn importing countries in Latin America are estimated to make up more than a quarter of the world market for corn this year. In fact, combined they are expected to import more corn from the world than Japan, which is currently the top destination for U.S. corn.