Taiwan Imports Most U.S. Corn In Seven Years, Pledges More During Goodwill Mission

10 Year Corn Exports To Taiwan

Members of the 2017 Agriculture Trade Goodwill Mission pledged Wednesday to purchase 5 million metric tons (197 million bushels) of U.S. corn and 500,000 tons of U.S. distiller’s dried grains with solubles (DDGS) between 2018 and 2019, echoing a rebound of U.S. corn sales to this long-term trading partner. 

Chart of Note: U.S. Exports Of Feed Grain In All Forms Breaks Record In 2016/2017 Marketing Year

U.S. exports of feed grain in all forms as of July 2017

The U.S. government released international trade figures for July on September 6, the eleventh month of data for the 2016/2017 marketing year for corn and sorghum. With just one month of data still unpublished, U.S. exports of feed grain in all forms (GIAF) has set a new record high, the result of increased demand, competitive U.S. prices and extensive marketing efforts by the U.S. Grains Council (USGC). 

Hot Topics: Cuban Embargo Will Hurt Grain Trade Despite Continued Engagement

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Recent moves to again harden the U.S. trade embargo against Cuba will block near-term sales of U.S. feed grains as well as stymie long-term market development. Despite these factors, the U.S. Grains Council (USGC) plans to continue its long-time work in Cuba, driven by members’ core belief that trade is critical for improving U.S.-Cuba relations and the welfare of the Cuban people. 

Trade Agreements A Good Deal For U.S. Feed Grains

Trade equals huge success for exports of U.S. feed grains in all forms, particularly to the 20 countries with which the United States has a free trade agreement (FTA). 

Exports of feed grains in all forms to FTA partner countries have increased by nearly 24 percent over the last 10 marketing years (2006/2007 to 2015/2016), according to U.S. Department of Agriculture (USDA) trade data and analysis by the U.S. Grains Council (USGC). 

Free Trade, Relationships Key To Market Competitiveness In South Korea

Recent events in foreign policy and the ongoing conversation about the value of U.S. trade agreements have put a spotlight on South Korea as a close U.S. ally and an important customer for U.S. products, including grains. 

South Korea is now the fifth largest market for U.S. agricultural exports, totaling $6.2 billion in purchases in 2016. The country was the fourth largest importer of both U.S. corn and distiller's dried grains with solubles (DDGS) as well as the seventh largest importer of U.S. barley in the 2015/2016 marketing year. 

2016/2017 Exports of Feed Grains In All Forms Up 33 Percent Year-On-Year

2016/2017 Exports of Feed Grains In All Forms Up 33 Percent Year-On-Year

U.S. exports of feed grains in all forms increased 33 percent year-over-year in the first six months of the 2016/2017 marketing year, according to recently published trade data from the U.S. Department of Agriculture (USDA) and analysis by the U.S. Grains Council (USGC).

That data showed the United States exported more than 56.6 million metric tons of feed grains in all forms - a calculation that measures grain products in corn equivalent - from September 2016 to February 2017, compared to 42.5 million tons during the same time the prior marketing year.

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