7. Country News
Canada: The Canadian Grains Commission reports that the 2017 barley crop planted area and yield was lower than in 2016, but the quality was very good with high kernel weights and plumpness. The area planted to barley was down 10 percent and yields were down 4 percent. (World-Grain)
China: Sinograin sold all 26.7 KMT of 2014 corn offered for sale at an average price of 1,870 yuan ($287.71)/MT. The higher price was obtained due to the better quality offered and the fact that Chinese corn futures prices have risen 12 percent over the past quarter. (Reuters)
Mexico: Members of the National Tortilla Council agreed not to raise the price of their product after government economy ministry officials promised to help contain high costs of corn and fuel. The government is trying to stymie public perceptions of inflation in an election year and tortilla makers had sought a 20 percent increase in prices. (Reuters)
South Africa: Johannesburg corn prices had been rallying due to concerns about renewed drought but subsequently fell based on carryover inventories for 2017 and new prospects for rain in production areas. Yellow maize for March delivery fell by 1.6 percent to 2,012 rand ($162.09)/MT and white maize prices dropped by 2.2 percent to 1,981.6 rand ($159.59)/MT. (AgriMoney)