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Senate ratification of the agreement isexpected by the end of the year. The CRAurges Congress to secure quick passage ofadditional free trade agreements with Panama,Colombia and South Korea.BiotechnologyCorn refiners recognize the importance ofbiotechnology and embrace its use to ensurean abundant, affordable and safe global foodsupply for generations to come. Our industry,in coalition efforts with other food andagricultural organizations, is working hard tosecure international acceptance of thisimportant technology. Much work remains tobe done, especially in key export markets suchas the European Union.Since the 2006 corn harvest, the U.S.-EU tradein corn gluten feed has fallen to a fraction ofprior years’ levels due to the presence ofHerculex RootWorm (HRW) in the cornsupply—a biotech corn variety that onlyrecently gained approval for import into theEuropean Union. Worldwide CGF exports are40% of the previous years’ volume.The industry faces a nearly identical situationfor feed produced from the 2007 corn cropbecause of the presence of two additionalEU-unapproved corn varieties. CRA continuesto cooperate with European feed compoundersand importers’ efforts to seek short and longtermsolutions for science-based, timelyapproval of biotech events in Europe.Regulatory MattersThe CRA is working cooperatively with theEnvironmental Protection Agency to addressconcerns with a new air quality modeling tool,known as AERMOD, which is used todetermine whether a proposed project willcomply with air permitting requirements underthe Clean Air Act. On this and another matter,an industry-wide protocol to measure volatileorganic compounds (VOCs) emissions, theCRA has provided sound scientificinformation to not only meet existingregulatory requirements, but to improve uponthem as well.SummaryThe corn wet milling industry is a dynamic,innovative industry that is dedicated toproviding high quality ingredients to facilitatea rapidly-growing, ever-changing globaleconomy.U.S. Per Capita Sweetener Deliveries*for Food and Beverage UseHoney &Refined HFCS Glucose Dextrose EdibleYear Sugar Corn Sweeteners (dry basis) Syrups1970198019902000200120022003200420052006101.883.664.465.564.563.361.061.763.262.50.519.049.662.762.662.961.059.959.258.310.712.913.615.815.515.515.215.615.313.84.63.53.63.43.33.33.13.33.33.11.51.31.21.51.41.51.41.31.51.5Total CaloricSweeteners119.1120.2132.4148.9147.3146.5141.7141.9142.5139.3Units Measured in PoundsSource: USDA—Economic Research Service* Per capita deliveries of sweeteners by U.S. processors and refiners and direct-consumption imports to foodmanufacturers, retailers, and other end users represent the per capita supply of caloric sweeteners. Actual human intakeof caloric sweeteners is lower because of uneaten food, spoilage, and other losses. Figures do not include deliveries toalcohol manufacturers.4 | 2007 Corn Annual
As we look back on 2007, we willremember it as a banner year for corn.We broke new records this year interms of production, price and use.When I left the Corn Refiners Association in2001, total U.S. agricultural exports were arespectable $53 billion. The corn crop thatyear was about 9.5 billion bushels and food,seed and industrial (FSI) uses for corn reachedabout 2 billion bushels, pushed by demand forcorn sweeteners. Corn used for ethanol was ata “then” record of 680 million bushels and theprice was about $2.00 per bushel.Six years later, we are in an entirely newarena. In 2007, our exports are expected toreach a record $79 billion rising to $83.5billion in 2008. The corn harvest is expected tototal 13.3 billion bushels, a higher level thanmany economists thought possible for thiscountry. Food, seed and industrial uses areestimated at 4.7 billion bushels, now pushedby domestic demand for ethanol. Of the FSItotal, 3.2 billion bushels will go to produceethanol. And the price is averaging a record$3.20 per bushel.Another remarkable aspect of today’s marketis that corn exports have held their own. Theyare still quite strong at 2.3 billion bushels,despite the demand for ethanol. Corn exportsU.S. Corn Exports AreImportant to the Economyalone account for $9.5 billion of this year’sexport total.All of this has meant a higher cost of doingbusiness for the corn refining industry. Weknow that 2008 is going to be an interestingyear, and I want you to know that we arewatching this market situation very, veryclosely in order to ensure that there areadequate supplies of the feed grains, foodgrains as well as energy stocks available forthis rapidly growing marketplace. Producershave done their part by planting 19.5% morecorn this year than last. But we recognize thatwe need to expand our horizons in terms of thedevelopment of home-grown renewableenergy sources.We want to help make cellulosic ethanol apractical and cost-effective alternative to bothgrain-based ethanol as well as an alternative togasoline. That is going to require not onlyscientific breakthroughs, but innovativeapproaches to the logistical planning andinfrastructure challenges that cellulosicethanol brings. Ultimately, the development ofcellulosic ethanol will ease the pressure onsome of our corn supply, and a thrivingrenewable fuels industry will help us lightenthe burden of $90-a-barrel oil. We must moveaway from our dependence on foreign oil,Charles F. ConnerActing Secretary, U.S.Department of AgricultureU.S. Corn Refining Industry at a Glance – 2006Corn Refining Plants:Location:Corn Grind:Value of Corn Purchased:Number of Corn SuppliersDirect Employment by CRA Member Companies:Capital Investment (Replacement Value):MAJOR PRODUCTS (estimated)Sweeteners (dry weight):Starches:Ethanol:Co-products:Value Added by Manufacture:2712 states1.6 billion bushels$3.8 billion41,00065,300*$12 billion24.7 billion pounds7.1 billion pounds1.4 billion gallons27.9 billion pounds$9.4 billion*Includes employees that provide services in non-corn refining areas.Compiled by the Corn Refiners Association based on 2006 data from the U.S. Department of Agriculture, LMC CommodityStudies, Renewable Fuels Association, and industry data compiled for CRA by VERIS Consulting, LLC.2007 Corn Annual | 5
Page 1 and 2: CornPart of of a a Global EconomyCo
Page 3 and 4: ContentsThe Year in Review ........
Page 5: CRA had discussions with relevantpr
Page 9 and 10: Refined Corn Products:Growing Marke
Page 11 and 12: 2001, China’s corn refiners had a
Page 13 and 14: Factors That Will ImpactGrowth of t
Page 15 and 16: 2007 Corn Annual | 13AK, CT, HI, ME
Page 17 and 18: Corn Refiners Association Member Co
Page 19 and 20: Honorary DirectorsMartin AndreasArc

Corn

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