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Grain Exports On Track To Set New Record
USAgNet - 08/16/2018

U.S. exports of grain in all forms 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 and analysis by the U.S. Grains Council.

During the first 10 months of the marketing year (September 2017 to June 2018), the United States exported 38.7 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 actually 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.


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