GRAINS IN ALL FORMS EXPORTS ON TRACK TO SET NEW RECORD
U.S. exports of grain in all forms (GIAF) 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 (USDA) and analysis by the U.S. Grains Council (USGC).
During the first 10 months of the marketing year (September 2017 to June 2018), the United States exported 98.3 million metric tons (3.87 billion bushels) of grain in all forms, up 2 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 used in the world market by including the corn equivalent of co-products like ethanol and distiller’s dried grains with solubles (DDGS) as well as beef, pork and poultry meat exports.
“GIAF exports is a fully-loaded accounting of the importance of exports to the livelihoods of U.S. coarse grain farmers and agribusinesses, particularly in a year of increased volatility and concern over retaliatory tariffs on U.S. agricultural products in multiple markets,” said Mike Dwyer, USGC chief economist. “U.S. GIAF exports could exceed 116 MMT (4.57 billion bushels) at the end of 2017/2018, up from last marketing year’s 114 MMT (4.49 billion bushels) and the second year in a row setting a new record high.”
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.
Trade with North American Free Trade Agreement (NAFTA) countries and neighbors, Mexico and Canada, has increased GIAF purchases by 3.7 percent and 12.6 percent year-over-year, respectively. In Mexico, corn sales are up 8.9 percent at nearly 12.4 MMT (488 million bushels), and DDGS sales are up 4.2 percent at 1.76 MMT. In Canada, corn imports have nearly doubled to 1.25 MMT (49.2 million bushels), and ethanol purchases are up slightly at nearly 270 million gallons year-to-date.
“GIAF exports to NAFTA partners could exceed 31 MMT (1.22 billion bushels) this marketing year – another record high that would account for 27 percent of worldwide GIAF sales,” Dwyer said. “Those sales signal the continued importance of the well-established supply chains and strong relationships the U.S. agricultural sector shares with both countries.”
Learn more about the feed grains in all forms calculation and dive into numbers by export market here.