The U.S. Grains Council’s (USGC’s) offices in Japan, South Korea and Taiwan came together to co-host an event launching the 2021/2022 U.S. Corn Export Cargo Report and offering customers information on grain market flows and new-crop production. Nearly 400 buyers from the three markets gathered on April 25 for the event, with some attending in-person and others using a virtual platform.
The program reviewed the findings of the recently-released report, provided an overview of planting conditions in the U.S. from three corn farmers and further examined the global grain market’s current status and outlook.
“Attendees appreciated the timely market intelligence that was provided during the webinar, which is beneficial for their purchasing decisions. The U.S. is a reliable source of global corn supply, especially under the current circumstances of market uncertainty,” said USGC Director in Taiwan Michael Lu.
Participants were welcomed by USGC Vice President Cary Sifferath before hearing from Dr. Kyle Gilliam, USGC manager of global strategies and trade, on the report’s findings. Gail Lierer of the Ohio Corn Marketing Program and USGC Asia Advisory-Team (A-Team) leader; John Greer of the Nebraska Corn Board and member of the Western Hemisphere A-Team; and Dirk Rice of the Illinois Corn Marketing Board and member of the Asia A-Team shared information on planting conditions and prospects in their respective states during a live producer panel.
“The timely information on the U.S. corn export quality and planting progress, weather and market information from representatives of three corn producing states is like nothing else that customers can obtain from other sources,” said Tommy Hamamoto, USGC director in Japan. “This is a good example of the transparency of the U.S. corn industry.”
Before ending the event with a question-and-answer session, attendees heard from Dr. Frayne Olson, crop economist and market specialist from North Dakota State University. Olson provided the audience with a grains crop market outlook presentation.
The export cargo quality report is a companion to the 2021/2022 Corn Harvest Quality Report that provides information about the quality of the most recent U.S. corn crop at harvest as it enters the international merchandising channels. Both reports provide reliable information on U.S. corn quality from the farm to the customer based on transparent and consistent methodology, offering an early view of grading factors established by the U.S. Department of Agriculture (USDA), moisture content and other characteristics not reported elsewhere. The reports identify any noticeable changes occurring between the time of harvest and export loading. With 11 reports available, readers can compare the crop quality over many years.
Based on the information shared with buyers during the event, the Council believes the three markets will have greater confidence in the quality of U.S. corn, which has secured a stable supply chain and price competitiveness.
“A timely report on the superior quality of U.S. corn has given Korean buyers confidence to expand their purchases of U.S. corn,” said Haksoo Kim, USGC director in South Korea. “A buyer even shared with me that thanks to the Council, they were better able to understand the current planting and farming situation in the corn belt without having to go to the United States.”
The findings of the report will also be shared in the coming weeks with buyers in Colombia, Honduras, Guatemala and Panama.
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.