Producing less than 3 percent of the total domestic demand, Korea has historically been the world\u00e2\u20ac\u2122s second or third largest feed grain import market. Recognizing the valuable buyer-seller relationship the United States has with the country, the U.S. Grains Council sent two consultants to a feed grain trade seminar in Korea to talk about issues relating to U.S. corn supply and demand as well as how to price distiller\u00e2\u20ac\u2122s dried grains with soluables (DDGS).<\/p>\n
\u00e2\u20ac\u0153In regards to U.S. supply and demand outlooks, there was some concern over the smaller October 2010 crop size,\u00e2\u20ac\ufffd said Joseph Kapraun of GROWMARK Inc. \u00e2\u20ac\u0153I emphasized to the audience that while the crop size was below U.S. producers\u00e2\u20ac\u2122 expectations, it was still the third-largest crop we\u00e2\u20ac\u2122ve ever produced. Also, the 2010 crop is of much better quality than the 2008\/2009 crop, in part due to less stress cracks,\u00e2\u20ac\ufffd he said. <\/p>\n
Sol Kim of TransCoastal Supply Co. Inc., discussed with seminar participants how to price DDGS as there was interest among attendees in how to properly do so. \u00e2\u20ac\u0153DDGS is a CBOT traded commodity, but it\u00e2\u20ac\u2122s not really being utilized yet,\u00e2\u20ac\ufffd Kim said. \u00e2\u20ac\u0153It\u00e2\u20ac\u2122s still primarily a flat priced commodity, and it doesn\u00e2\u20ac\u2122t always follow the trends of other ag commodities; so we discussed some of the factors that can affect the price of cost and freight of DDGS as well as China\u00e2\u20ac\u2122s voracious demand for the product.\u00e2\u20ac\ufffd <\/p>\n
By participating in such seminars, the Council aims to strengthen confidence in U.S. corn and feed grains among one of its most important international clients. It also hopes its involvement in such meetings will promote the U.S. advantage and influence customers when making feed grain buying decisions. <\/p>\n
\u00e2\u20ac\u0153I told the group that Korean feed grains demand is very important to us, and I shared how much we\u00e2\u20ac\u2122ve appreciated their business,\u00e2\u20ac\ufffd Kapraun said. \u00e2\u20ac\u0153I also conveyed to them that we look forward to being their long-term supply partners.\u00e2\u20ac\ufffd<\/p>\n","protected":false},"excerpt":{"rendered":"
Producing less than 3 percent of the total domestic demand, Korea has historically been the world\u00e2\u20ac\u2122s second or third largest feed grain import market. Recognizing the valuable buyer-seller relationship the United States has with the country, the U.S. Grains Council sent two consultants to a feed grain trade seminar in Korea to talk about issues … <\/p>\n