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Conference Yields $44 Million in Corn and DDGS Sales
CAMBODIA - U.S. corn producers scored big at the 5th Southeast Asia Agricultural Cooperators Conference in Siem Reap, Cambodia.The value of U.S. corn and distiller’s dried grains with solubles (DDGS) negotiated and traded at the conference that occurred earlier this month totaled $44 million.
Roughly 207,000 tonnes of US corn and corn products were sold.
The conference was a collaborative effort between the American Soybean Association International Marketing (ASA-IM), US Wheat Associates and US Grains Council.
“This is an example of export organizations working together for the benefit of all U.S. farmers,” said Julius Schaaf, an at-large director on the US Grains Council’s Board of Directors representing the Iowa Corn Promotion Board.
“This was an opportunity for buyers to meet face-to-face with sellers.”
Mrs Schaaf said approximately 1 million metric tons of US agricultural products with an estimated value of $335 million, based on current futures prices, were traded and/or negotiated at the annual event.
“This year’s sale amount of $44 million shows that our customers in Southeast Asia continue to see the United States as a reliable supplier of high quality U.S. corn,” Mr Schaaf said.
“As U.S. growers are preparing to bring in the United States’ secondlargest corn crop in recorded history, our international customers are becoming reassured of feed grains availability in the United States and are continuing to count on us to help meet their needs.”
This year 125 industry executives, representing a total of 92 companies and organizations from 12 countries, attended the conference, including a delegation from the US.
Grains Council which included Schaaf; Albert Ambrose, vice president of risk management, oilseed processing for Council member CHS, Inc.; Gary Blumenthal, president and CEO of World Perspectives Inc.; and Kim Karst, manager of international operations – Asia.
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