News & Events
This week’s U.S. Grains Council’s (USGC’s) Chart of Note illustrates the top 10 U.S. corn markets as of Aug. 20 for the 2014/2015 marketing year.
The USDA’s World Agricultural Supply and Demand Estimates (WASDE) report for August projected U.S. corn exports for the year at 47 million metric tons (1.85 billion bushels) - 13 percent of U.S. corn production. Representing 85 percent of sales, these markets are important to supporting demand and, ultimately, the prices farmers receive for their harvests.
Of the top 10 importers, three are located in Asia, five in Latin America and two in Middle East/North Africa. In addition, of these top 10 markets, five (or half) have free trade agreements (FTAs) in place with the United States.
Japan is once again on track to be the largest importer of U.S. corn having already imported 12 million tons (472.4 million bushels). Mexico is following close behind having imported 10.9 million tons (429.1 million bushels) so far this year. Colombia rounds out the top three with purchases of 4.5 million tons (177 million bushels) this marketing year.
Through educational seminars and trainings, trade teams and missions and more, the Council has helped open the doors of countries around the world to trade and have helped markets remain open to U.S. products.
“Our top 10 markets are winding down this marketing year, having purchased more than 40 million tons (1.5 million bushels),” said USGC Chairman Alan Tiemann, who farms in Nebraska. “With 10 days left in this marketing year, this chart highlights the places the Council has to continue to work to build demand for U.S. corn as well as defend U.S. market share.”