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ICPB: Corn exports post near-record in 2007-08Iowa U.S. corn exports turned in a near-record performance during the 2007-08 marketing year for corn. "Ethanol demand isn't the only contributor to strong farm gate prices," says Darrel McAlexander, chair of the Iowa Corn Promotion Board. "The unofficial numbers from USDA's Foreign Agriculture Service show 2007-08 as one of the top three or four years in corn export history. "At the end of the standardized trade year (October to September), this may be our second-best year ever." McAlexander, who is currently in Mexico working to promote Iowa corn exports, emphasized that export sales are essential to grower profitability: "We continue to produce more corn, and we have to make sure demand keeps pace for corn growers to operate in the black. That means promoting corn use in livestock, in processing, and for exports." U.S. corn shipments increased over the previous year in 12 of the top 20 U.S. export markets, led by Japan. Sales jumped especially in South Korea, which posted a 112 percent increase, but fell back in Mexico, Taiwan and Egypt, the other top five markets. In all, 59 foreign countries purchased U.S. corn. The ICPB funds U.S. Grains Council export market development programs, which maintains offices or representatives in 19 major markets and reaches thousands of grain buyers and users annually. USGC programs promote exports of commodity corn, value-added corn varieties and processed corn products like distillers grains from Iowa's ethanol industry. The ICPB also works to increase supports Iowa-specific export, and it funds the U.S. Meat Export Federation to increase sales of corn-fed beef, pork and lamb. 9/29/08 Date: 9/23/08 Advertisement
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