US farm exports reached $171 billion in 2025, and the crop in storage is the collateral that finances trade
US agricultural exports totaled $171 billion in 2025. Much of this trade is financed against the crop itself, through warehouse receipts, pre-export finance and GSM-102 guaranteed letters of credit.
Structured commodity finance lends against the goods and their sale, so the structure carries the credit
Structured commodity finance is short-term finance for exchange-traded commodities, repaid from the sale of the goods. Providers advance less than market value, take security through warehouse receipts and monitor the goods.
Title to a commodity cargo passes when the contract says so, and documents of title decide who can prove it
Incoterms rules do not say when title passes. The sale contract and the law decide it, and documents of title such as bills of lading and warehouse receipts let the holder claim, hold and pass on the goods.
Inventory finance funds goods in storage, and the finance provider holds title until it is repaid
Inventory finance pays for goods held for sale. A finance provider advances part of their value, holds title or security over them with inspections and insurance, and releases title when sale proceeds repay the advance.