Buyers and end-users who attended the conference reported sales of approximately 2.6 million metric tons of grains and co-products worth $460 million traded in connection with the event, held Oct. 24-26 in Detroit. That included 924,500 metric tons of corn and 875,000 metric tons of distiller’s dried grains with solubles (DDGS), as well as 25,200 metric tons of corn gluten, 428,000 metric tons of sorghum; and 5,000 metric tons of barley.
“Trade is absolutely critical to U.S. farmers right now, and these sales show that buyers attending Export Exchange 2016 took the buying opportunities very seriously,” said Tom Sleight, president and CEO of the Council. “Putting buyers and sellers together, building and sustaining relationships with our top global grain buyers have been hallmarks of Council activities worldwide. We are thrilled to see how much actual trade was done at the show and in association with it.”
“This conference and these tremendous sales figures show how much of an appetite there is globally for U.S.-produced feed grains and co-products. It’s no surprise that the top two commodities traded during the conference were corn and DDGS, a coproduct of U.S. ethanol production. With a record corn supply anticipated for the 2016/2017 marketing year, exports will continue to be essential as we move forward in a global market,” said RFA President and CEO Bob Dinneen.
More than 200 international buyers and end-users of coarse grains and co-products from more than 35 countries attended the Export Exchange. The event is held every two years and will next be held in 2018.