More than 1.3 million metric tons (80 million bushels of corn equivalent), equating to about $700 million dollars, were recently transacted and negotiated at the 2022 Southeast Asia U.S. Agricultural Co-operators Conference in Bangkok, Thailand, in late September.
Jointly organized by the U.S. Grains Council (USGC) and U.S. Soybean Export Council (USSEC), the event welcomed its largest turnout since its inception in 2004. Having been limited to virtual events for over two years, industry representatives from across the region were excited to take part in the event, reconnecting and establishing relationships for U.S. agricultural products.
Of the commodities sold, 90,000 metric tons, or 4 million bushels, were U.S. corn and 207,000 metric tons (about 33 million bushels in corn equivalent) were U.S. distiller’s dried grains with solubles (DDGS). The remaining sales consisted of U.S. soybeans, soybean meal and wheat.
“The fact that the whole industry shows up to this event says a lot about the resiliency of our industry. When our growers, traders, and our end-users all come together, there’s not a market headwind that we can’t face and flourish,” said Caleb Wurth, USGC regional director, Southeast Asia and Oceania.
Council programs continue post conference to ensure end users are prepared to maximize the the utilization of our products once sold; servicing customers’ commercial and technical needs.
About The U.S. Grains Council
The U.S. Grains Council develops export markets for U.S. barley, corn, sorghum and related products including distiller’s dried grains with solubles (DDGS) and ethanol. With full-time presence in 28 locations, the Council operates programs in more than 50 countries and the European Union. The Council believes exports are vital to global economic development and to U.S. agriculture’s profitability. Detailed information about the Council and its programs is online at www.grains.org.