2013/2014 corn and sorghum marketing years finish out strong
Exports of both U.S. corn and U.S. sorghum finished the 2013/2014 market year strong, with increases of more than 150 percent and 200 percent over the same time period last year, respectively.
As of Aug. 28, three days before the end of the marketing year, the United States had outstanding sales and accumulated exports of 48.6 million metric tons (1.9 billion bushels) of corn. In the 2013/2014 marketing year, there was an abundant supply of competitively priced high-quality U.S. corn available to international buyers and end-users due to record production of nearly 355.3 million tons (14 billion bushels).
Japan was once again a leader in importing U.S. corn taking 11.7 million tons (460.6 million bushels) with Mexico close behind importing 10.7 million tons (421.2 million bushels) of U.S. corn. Other major purchasers included Colombia, which imported 3.3 million tons (130 million bushels) this marketing year after minimal exports the prior year, and the Middle East and North Africa region, which imported more than 4.4 million tons (173.2 million bushels).
“The United States had an abundant supply of high-quality corn this year,” said U.S. Grains Council Director of Global Strategies Kurt Shultz. “It was a buyers’ market in the 2013/2014 marketing year, and it looks like we may be heading into a similar situation for the 2014/2015 marketing year.”
The United States also exported 5 million tons (197 bushels) of sorghum valued at $1.4 billion during this marketing year. The majority of U.S. sorghum exports went to China.
“About a year ago, the Council and the United Sorghum Checkoff Program developed and implemented an intensive strategy to market U.S. sorghum in China,” said USGC Manager of Global Trade Alvaro Cordero. “Just one year later, the country is importing nearly 90 percent of all U.S. sorghum exports valued at more than $1.2 billion and has become an important business partner with the U.S. sorghum industry.”
Sorghum is also going to Japan, which imported 322,000 tons (12.7 million bushels) and Mexico, which imported 114,000 tons (4.5 million bushels).
The Council has more than 50 years of experience overcoming barriers and creating new opportunities for U.S. coarse grains and co-products around the world. Around the world, and around the clock, marketing this year’s abundant corn and sorghum crop has been the focus of the Council’s international staff.