Korean Buyers Purchase US Corn After Illinois Meeting
After meeting virtually with Illinois corn farmers and grain merchants, buyers representing South Korean companies committed to purchase 35 million bushels of US corn.
Illinois farmers overcame physical distance mid-harvest to meet online with international business leaders from South Korea for a special virtual trade mission and farm tour in cooperation with the US Grains Council.
The team of nearly 20 from South Korea represented corn and co-product buyers from the corn processing and feed industry. The group was particularly interested in learning more about the quality of this year’s Illinois corn crop, and overall supply situation in Illinois and the Mississippi River export channel.
Lou Lamoreux, Carroll County farmer, hosted the international guests in a farm tour and Q&A session.
“It would have been nice to meet face to face but for what we had it was as productive as we could get. I’d like to think our efforts made a difference and answering their questions had a benefit,” said Lamoreux.
South Korean corn buyers are very focused on securing high quality grain and Illinois farmers produced an abundance of quality corn in 2020.
“This commitment from South Korean buyers demonstrates the importance of finding new ways to build and maintain relationships overseas. This virtual trade mission was the first of its kind and its success is based on a lot of hard work from partners around the world,” Collin Watters, Director of Exports and Logistics at IL Corn, said.
With offices across the globe, U.S. Grains Council partners with IL Corn to promote and expand international markets for grain grown in America. Their work establishing relationships and promoting trade helps grow demand for American corn.