Del.icio.us  Digg  facebook  MySpace  Twitter  Google  Bookmark Me  LinkedIn  StumbleUpon  Permalink

U.S. Faces Increased Export Opportunities

As the Russian drought drags on and the resultant export ban remains in place, international grain buyers are looking to the United States for corn to help meet ongoing demands. Historically, Russia exports between 6-7 million tons from August through December. Because of the current ban, this figure will need to be filled by other sources.

While the world's supply will be able to cover the deficient, the more difficult problem will be if there is no rain in the next six weeks. This will inhibit Russia from planting its winter wheat crop, affecting its ability to export. At the same time Ukraine's president has informally announced that major grains such as wheat, barley and corn will need quotas imposed for export beginning August 20.

U.S. Grains Council Regional Director in the Middle East Joe O'Brien says these recent developments in Russia and Ukraine could help U.S. market share in other countries as well, such as Saudi Arabia, and help increase the exports of U.S. grains to the Middle East.