WASHINGTON, DC – With a weaker dollar, and supply concerns around the globe, U.S. grain exports of corn, barley and sorghum are projected to break the all-time export record this marketing season.
According to the U.S. Grains Council (USGC), last year’s marketing (2019/2020) exports totaled roughly 101.2 million metric tons, equivalent to 4.1 billion bushels, the sixth-best export marketing year of all time.
The current season (2020/2021) is projected to exceed that level and is already running 76 percent above last year. Already in this marketing year, corn exports are totaling more than 24.2 million metric tons with around 25 percent going to China alone, at a value of $5.2 billion.
Sorghum exports this season total 3.4 million metric tons, mostly to China, and represents the hottest export commodity for the U.S., gaining 141 percent growth over 2020.
(SOURCE: All Ag News)