Attendees reported sales of approximately 2.1 mmt of grains and co-products traded either at conference or immediately before or after it.

December 13, 2018

3 Min Read
DDGS, grains sales top $400m at 2018 Export Exchange
U.S. Grains Council

The grain buyers from 35 countries who attended the 2018 Export Exchange conference in Minneapolis, Minn., have since reported buying an estimated $403 million worth of coarse grains and co-products, including dried distillers grains with solubles (DDGS) and feed grains.

The biennial event -- sponsored by the U.S. Grains Council (USGC), the Renewable Fuels Assn. (RFA) and Growth Energy -- was held in October to offer an opportunity for education and introductions to members of the U.S. grain production and export industries.

Buyers and end users were polled while at the conference and immediately after it regarding purchase agreements with sellers and how much volume (tonnage) they bought. In total, attendees reported sales of approximately 2.1 million metric tons of grains and co-products traded either at the conference or immediately before or after it.

"Bringing buyers and sellers together in this way is crucial to U.S. farmers right now, and these sales show buyers at Export Exchange 2018 were serious about making deals," USGC president and chief executive officer Tom Sleight said. "Considering the international trade climate, we are pleased to see these number are holding steady."

Many buyers this year noted that their purchasing strategies were more short term due to the uncertain trade relationship between the U.S. and China but reported that they valued their long-term partnerships with U.S. suppliers. Many also reported that they are still considering future purchases.

The top grain traded during the two-day conference was DDGS, with more than 1.3 mmt collectively exchanged. This number translates to just more than 11% of last year's total U.S. DDGS exports. In addition, buyers reported contracting 619,000 mt of U.S. corn and 4,050 mt of U.S. sorghum.

“It’s no surprise that the top commodity traded during Export Exchange was DDGS, as last year we shipped the ethanol co-product to 50 countries on five continents,” RFA president and CEO Geoff Cooper said. “DDGS and other ethanol co-products provide a value-added market for the U.S. ethanol industry, and the Export Exchange was successful, providing an ideal platform to connect buyers and sellers.”

Export Exchange 2018 offered overseas attendees a unique opportunity to meet and build relationships with domestic suppliers of corn, DDGS, sorghum, barley and other commodities. Nearly 200 international buyers and end users of coarse grains and co-products were in Minneapolis for the Oct. 22-24 conference and for related tours of U.S. farms, ethanol plans and export infrastructure as part of 21 USGC-sponsored trade teams.

“The 2018 Export Exchange has once again demonstrated the numerous benefits that ethanol and its co-products, like DDGS, bring to the international market,” Growth Energy CEO Emily Skor said. “DDGS is the most extensively studied feed ingredient in the past 20 years and stands testament to the contributions of the biofuels industry in supporting global agriculture. This event is a critical venue for American producers to build bonds internationally and foster a healthy trade environment.”

Other grains traded at Export Exchange included:

• Corn gluten feed — 54,000 mt;

• Corn gluten meal – 600 mt;

• Barley — 500 mt, and

• Other products, including soybeans, soybean meal and feed wheat – 70,000 mt.

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