Country News
Argentina: Deputy Agriculture Secretary Oscar Solis has indicated that Argentina will likely export 22-24 MMT of the 2012/13 corn crop, an increase that suggests the government will authorize increased exports, according to Reuters. This potential increase in exports comes on the heels of last month’s 23 percent increase in the corn outlook due to larger-than-expected planting acreage. So far, Argentina has authorized the export of 17 MMT of corn from the 2012/13 crop.
Europe: The corn harvest in Bulgaria and Romania has started three weeks earlier than usual this year, reports WPI. The corn crop has matured at a faster-than-usual rate this year due to hot and dry weather during July and August following the pollination period. However, no major impact on yields is expected.
South Africa: South African corn futures fell again after speculation that wet weather in the U.S. could lead to a bumper crop caused a drop in U.S. prices, reports Bloomberg News. White corn for December delivery fell by 0.6 percent to $230/MT, while yellow corn dr opped 0.7 percent to $217.21/MT.
Further on South Africa. WPI reports that a new drought resistant corn seed, 30y87, has been developed there. This new strain has the potential to greatly improve yields; however, it requires advanced farming techniques and accurate fertilizer applications, which could hinder its adoption by the majority of small farmers.
Tunisia: The FAO is reporting that Tunisian grain harvest has fallen by 47 percent this year, as persistent dry weather forced farmers to reduce their planting acreage, according to Bloomberg News. The crop has fallen to 1.37 MMT, which is down from 2.61 MMT last year. Of this total, some 320,000 MT consists of barley. The country’s grain imports may jump as high as 3.57 MMT in 2013/14, which is 30 percent more than last year, and 23 percent higher than the five-year average.