Country News
Bulgaria: Farmers are refusing to sell their corn as the market is currently offering prices below their cost of production. (WPI)
India: The kharif season’s corn crop is much smaller, with the government predicting 16.4 MMT but the trade banking that it will be 12.5-13.8 MMT. At a cost of $235/MT and rising, poultry producers are switching to other feed ingredients. (WPI)
Jordan: Tenders for barley are being reissued by the government due to the lack of any bidders. The trade has backed away from the market after what it perceives as Jordan’s unjustifiable rejection of some wheat imports after inspection.
South Africa: The drought has resulted in the most imports of yellow corn in 11 years, bringing in nearly 100 KMT from South America. Corn on the South African Futures Exchange hit a record $232/MT. (Bloomberg)