U.S. exports of grain in all forms are on track to set a new record in 2017/2018, with two months of sales left to report, according to data from the U.S. Department of Agriculture and analysis by the U.S. Grains Council. During the first ten months of the marketing year, September 2017 to June 2018, the United States exported 98.3 million metric tons, or 38.7 billion bushels, of grain in all forms, up two percent year-over-year from last year’s record-setting pace. The feed grains in all forms calculation helps capture how much of U.S. coarse grain production is actually used in the world market by including the corn equivalent of co-products like ethanol and distiller’s dried grains with solubles, as well as beef, pork and poultry meat exports.
Mike Dwyer, Grains Council chief economist, predicts grains in all forms exports could top 116 million metric tons, or 4.57 billion bushels, by the end of the marketing year. USGC says that achievement would come “despite a tumultuous trade environment, serving as a reminder of the resiliency” of U.S. exports and of the quality and price competitiveness of U.S. coarse grains and co-products.
Source: NAFB News Service