World Trade Month: Why trade matters
Exports are responsible for about 33 percent of U.S. corn farmers’ income, according to National Corn Growers Association. More than 20 percent of the U.S. corn crop is exported annually when accounting for corn and value-added products, like ethanol and distillers dried grains with solubles (DDGS). And, nearly 26 percent of U.S. corn exports go to Canada and Mexico alone.
In addition to new trade agreements, the daily, on-the-ground work of promoting U.S. agricultural products, fighting non-tariff trade barriers, and building global demand is critical to making trade work and keeping U.S. farmers competitive. USDA’s Market Access Program (MAP) and Foreign Market Development Program (FMD) assist farmers to expand key markets and build new export market demand.
Local investments
Minnesota Corn invests in multiple organizations that work to maintain and develop export markets, including:
- the U.S. Grains Council, a national grain-export organization dedicated to developing markets abroad.
- the U.S. Meat Export Federation, which promotes U.S.-grown beef and pork around the world. Minnesota Corn’s investment helps USMEF promote American products in Japan and South Korea.
- the USA Poultry & Egg Export Council, which helps promote U.S. poultry and eggs globally.
- the Northern Crops Institute, a Fargo, North Dakota, based international meeting and learning center. In recent years, Minnesota Corn has worked with NCI on trade missions and studies that compare U.S. corn to international varieties.
Trade news this week:
Export inspections mostly mixed – Brownfield Ag News
Corn Slightly Lower on Tuesday Morning | Nasdaq
36% of U.S. corn, 25% of soybeans planted – Brownfield Ag News
Photo Of The Week: DDGS Conference Takes Place In Korea – U.S. GRAINS COUNCIL
