World Grain - November 2009 - 15

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Taiwan to purchase large amounts of U.S. grain, soy
WASHINGTON, D.C., U.S. - In late September and early October,
the American Soybean Association (ASA), the U.S. Wheat Associates (USW) and the National Corn Growers Association (NCGA) announced deals with Taiwanese buyers to purchase U.S. wheat, corn
(maize) and soy.
ASA announced on Oct. 2 that the association signed a joint communiqué with Taiwanese grain and oilseed buyers that describes Taiwan's intentions to purchase 3 million to 3.2 million tonnes (equivalent to 110-118 million bushels) of U.S. soybeans during 2010 and
2011. The value of this purchase is estimated to be worth between
$1.35 billion and $1.44 billion.
The Taiwan Flour Mills Association on Sept. 24 signed a letter of
intent with USW to purchase a total of 1.7 million tonnes, equivalent
to 62.5 million bushels, of U.S. wheat during 2010 and 2011. The
letter of intent was signed by Mr. Shao-Fu Hung, executive director, Taiwan Flour Mills Association, and USW President Alan Tracy
during a ceremony on Capitol Hill in Washington, D.C., U.S. Over
the past five years, Taiwan has purchased an average of 34.9 million
bushels of U.S. wheat every year - making the U.S. its primary
wheat supplier.
The National Corn Growers Association (NCGA) announced on
Oct. 2 that the association signed a joint agreement with members of
the 2009 Taiwan Agricultural Trade Goodwill Mission that commits
the buyers to purchase nearly 400 million bushels of corn (maize)
over two years.
NCGA said the agreement, which was signed by Mike Geske,
NCGA corn board member, represents a renewal of Taiwan's commitment to U.S. corn growers.
"Today, we sign three letters of intent to purchase an estimated
$3.5 billion of U.S. wheat, corn, and soybeans over the next two
years," said Dr. Paul M. H. Sun, who is leading the Taiwan Agricultural Trade Goodwill Mission to the U.S. "We share a love of
American food products, its culture and its values. Trade between
our countries benefits your farmers and our consumers. We hope our
commitment leads to the next logical phase - a free trade agreement
that has the potential to increase U.S. agricultural exports to Taiwan
by 16 percent."

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David Faith elected president at The Scoular Co.
OMAHA, NEBRASKA, U.S. - David M. Faith has been elected
president at The Scoular Co. He succeeds Randal Linville, who retired earlier this year after 25 years with the company, including
the past 10 as president and chief executive officer. Earlier this year
the board of directors of The Scoular Co. elected Charles (Chuck)
Elsea as chief executive officer.
Faith is a 25-year veteran of The Scoular Co., joining the company as a grain merchant in Cedar Rapids, Iowa, in 1984. After relocating to Omaha in 1987, he became president and chief operating
officer of the company's Vic's Popping Corn subsidiary while also
holding other corporate responsibilities. After the Vic's business
was sold, Faith assumed responsibility for information technology
and shortly thereafter accounting and control under the Enterprise
Development Group umbrella.
In addition to his new responsibilities as president, Faith will
continue to oversee and direct the company's accounting and control, business finance, trade finance and information technology
groups.
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World Grain - November 2009

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