Importers and end users of U.S. grains across China joined the U.S. Grains Council’s (USGC's) Beijing office last week to discuss current U.S. corn and sorghum markets, harvest progress, planting, and quality information.
“China’s role as the leading export market for U.S. sorghum has returned, and China will import more than half of all U.S. sorghum produced in the current crop year,” said Ryan LeGrand, USGC’s president and CEO, in his opening remarks at the event.
“It’s also well-known that China’s imports of U.S. corn surpassed all expectations in recent months.
"With more than 20 million metric tons (787 million bushels) shipped to China so far in the current crop year, and over 10 million metric tons (394 million bushels) contracted so far for next year, the country's imports in the current crop year make China by far the biggest importer of U.S. corn ever, surpassing Mexico, our former top customer, by about 30%.”
Bryan Lohmar, director of USGC’s Beijing office, facilitated the event, leading discussions with USGC members and employees on export cargo quality, planting progress, market outlook, and crop size and condition.
Members from the Texas Sorghum Association and the Kansas Sorghum Association updated the group on sorghum growing and harvest conditions, while farmers from the Iowa Corn Growers Association and Illinois Farm Bureau provided corn condition updates.
“The U.S.-China relationship is complex and sometimes difficult, but also important and beneficial to both countries in many respects,” Lohmar said.
“U.S. agricultural exports are playing a key role in keeping both countries focused on the mutually beneficial component of the bilateral relationship as the two sides work through their differences.
"The U.S. is well-positioned to support China’s overall food security in the future.”
Across the board, U.S. grains are on track to have a successful year, anticipating large export numbers, the third-largest corn yield in history, and the largest sorghum crop since 2016.
However, it could be March 2022 before freight rates stabilize and possibly decline.
Throughout the period of pandemic travel restrictions, USGC’s office in China has held activities for importers and end users of U.S. corn and sorghum, which have proven successful as China has become the No. 1 international customer for corn and sorghum.
China has purchased more than 30 million metric tons (MMT) (1 billion bushels) of U.S. corn and over 8 MMT (315 bushels) of U.S. sorghum since the implementation the Phase One trade deal between the United States and China in February 2020.
USGC remains committed to working with partners in China to build a long-lasting, stable, and mutually beneficial trade relationship in corn, sorghum, and co-products.
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