Saudi Arabia has nearly doubled its imports of U.S. corn by purchasing 81.5 million bushels or 2.07 million metric tons. Nebraska Corn Growers Association President Dan Wesely says this export development is very positive for America’s corn growers.
He says the Saudi Arabian purchase comes at a good time with so much market uncertainty going on with renegotiations on NAFTA and tweets regarding other trade deals.
Wesely is hoping the Saudi Arabian deal will lead to other export customers buying U.S. corn.
U.S. Grains Council officials says that several factors led to the Saudi’s upping their corn purchases from the U.S. including favorable government policy and competitive prices.
