|The Export Exchange conference hosted this fall by the U.S. Grains Council (USGC), Growth Energy and the Renewable Fuels Association (RFA) is already paying dividends, according to surveys of overseas grain buyers who attended – they purchased $225 million worth of grain and ethanol co-product.|
Buyers and end-users were surveyed after the conference to see if they had made any purchase agreements with sellers and if so, how much was purchased. In total, attendees reported sales of just over $225 million with another $128 million under negotiation. That equates to 514,850 metric tons of grains and co-products traded either at the conference or immediately before or after.
The top grain traded during the two-day conference was corn, with 208,800 metric tons collectively purchased, followed by distiller’s dried grains with solubles (DDGS), with 156,400 metric tons purchased.
Export Exchange 2022 offered attendees a unique opportunity to meet and build relationships with domestic suppliers of corn, DDGS, sorghum, barley and other commodities. More than 200 international buyers and end-users of coarse grains and co-products from more than 35 countries were in Minneapolis for the conference, held Oct. 12 to 14, and for related tours of U.S. farms, ethanol plants and export infrastructure as part of Council trade teams.
“Trade is absolutely critical to U.S. farmers right now, and these sales show that buyers attending Export Exchange 2022 took the buying opportunities very seriously,” said Ryan LeGrand, president and CEO of the Council. “Putting buyers and sellers together, building and sustaining relationships with our top global grain buyers have been hallmarks of Council activities worldwide. We are thrilled to see how much actual trade was done at the show and in association with it.”
“Exports of U.S. grains and DDGS create jobs here at home while helping international companies satisfy their demand for quality products,” said Growth Energy CEO Emily Skor. “The impressive amount of business generated at this year’s Export Exchange is a testament to the strength and ingenuity of U.S. producers and shows just how important this biennial event is to facilitating trade for U.S. products.”
“Once again, these numbers show that Export Exchange is where international buyers and sellers go to do business,” said RFA President and CEO Geoff Cooper. “In just three days, buyers purchased enough DDGS to fill three Panamax vessels. We are proud to offer this excellent deal-making opportunity every two years.”
Other grains traded at Export Exchange included:
• Corn Gluten Meal—24,250 metric tons;
• Soybean Meal – 77,000 metric tons;
• Soybeans – 22,000 metric tons.
The Export Exchange conference provides an ideal forum for continued relationship building among trading partners. The conference is held every two years and will next be held in 2024. More information about the recent event is online at www.exportexchange.org.