U.S. industry prepared for corn, grain export growth
The U.S. Grains Council, responding to Wednesday's release of the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates, said the country's farmers are more than capable of supplying domestic and international markets with feed grains.
'Both ethanol production and coarse grains exports are projected to heavily contribute to the bottom line of U.S. producers going forward,' said Ken Hobbie, the council's president and chief executive officer, in a statement.
The USDA report said corn exports in 2009-2010 are projected to be 150 million bushels higher, 'reflecting reduced foreign production prospects and stronger expected import demand from Mexico and Taiwan.'
In 2009-2010, Sorghum will rise slightly from 380 million bushels to 381 million bushels, while barley will increase from 203 million bushels to 207 million bushels. Sorghum and barley exports are expected to remain steady due to stable demand in Mexico and Asian markets.
Hobbie said the council's export market development programs will focus on building additional demand in regions such as the Middle East, Southeast Asia and North Africa. 'We are also soon to establish a regional office in Latin American to focus increased attention on growing demand and capturing greater market share for U.S. coarse grains in Panama, Costa Rica, Colombia, Peru, Guatemala and other countries in the region,' he said.
U.S. industry prepared for corn, grain export growth
