International buyers spend millions in grain sales during Export Exchange 2022 - Indiana Corn and Soy

International buyers spend millions in grain sales during Export Exchange 2022

BY U.S. GRAINS COUNCIL STAFF

The Export Exchange conference, hosted this fall by the U.S. Grains Council (USGC), Growth Energy and the Renewable Fuels Association (RFA), is paying dividends, according to surveys of overseas grain buyers who attended.

In total, attendees reported sales of more than $225 million with another $128 million continuing in negotiation. That equates to 514,850 metric tons of grains and co-products traded during the event.

The top grain traded during the three-day conference was corn, with 208,800 metric tons collectively purchased, followed by distiller’s dried grains with solubles (DDGS), with 156,400 metric tons sold.

Export Exchange 2022 offered attendees a unique opportunity to meet and build relationships with domestic suppliers of corn, DDGS, sorghum, barley and other commodities. More than 200 international buyers and end users of coarse grains and co-products from more than 35 countries were in Minneapolis for the conference, in October, and for related tours of U.S. farms, ethanol plants and export infrastructure as part of Council trade teams.

“The sales that were conducted at Export Exchange this year shows the strong appetite for U.S. product and proves there is no substitute for in-person business,” said Emily Byron, USGC Director of Global Programs. “By putting buyers and sellers in the same room and allowing them to foster strong connections, we’re working to keep U.S. farmers at the forefront of global agriculture trade.”

Other grains traded at Export Exchange included 24,250 metric tons (MT) of corn gluten meal, 77,000 MT of soybean meal and 22,000 MT of soybeans. In addition to the business-to-business and network building opportunities for attendees, Export Exchange also featured a strong roster of expert speakers across five general sessions, as well as an exhibit hall where agribusiness large and small had the chance to showcase their products.

Each session focused on a different issue facing the agricultural industry, starting with insights into upcoming policy decisions in Washington that will affect farmers and producers across the country. Other speakers touched on critical topics such as inflation and shipping logistics, breakthroughs in DDGS uses like aquaculture and a panel on the advantages of U.S. corn against its competitors.

The Council supported Export Exchange by sponsoring 21 trade teams, 11 visiting prior to the event and 10 afterwards, that had the chance to tour facilities ranging from family farms to ethanol plants and grain elevators in 18 different states.

These trade teams, with participants grouped by their region of origin and commodities they deal in, allow buyers and foreign government officials to make connections with U.S. producers building trust, and therefore better business partnerships, for years to come.

“This year’s Export Exchange was more vital than ever considering the pandemic that hamstrung global trade and halted in-person business meetings,” Byron said. “The Council is proud to have helped reconnect our domestic producers with major international importers and pave the way for continued successes for U.S. agriculture on the global scale.”

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