US corn exports “leaps and bounds” ahead of this time last year
The CEO of the US Grains Council says US corn exports have really taken off this marketing year.
“We’re just leaps and bounds ahead of where we were last year.”
Ryan LeGrand tells Brownfield that is being led by China who has bought about 15 million tons so far, compared to just 60,000 at this time last year.
“China is getting all the news these days, but countries like Mexico, Japan, Colombia, South Korea, they are pretty consistently in out top five and they are all ahead of pace compared to the same period last year.”
He says they are also seeing purchases from newer markets in Southeast Asia and the North Africa region, likely because of weaker crops and export limitations in areas like South America and Ukraine.
“I think that is causing nations that don’t typically buy a whole lot from us to turn to the United States and buy our competitively prices supplies.”
LeGRand says those strong corn exports have played a big part in boosting prices.