Country News
Argentina: The Buenos Aires Grain Exchange raised the projected area planted to corn this season by 8.8 percent to 3.1 million hectares. (Agrimoney)
Brazil: Analyst Agroconsult reduced its estimate of the first annual corn crop to 27.9 MMT from 28.5 MMT, and the larger second crop down to 57.7 MMT from an earlier estimate of 60 MMT. (Reuters)
European Union: The European Compound Feed Manufacturers’ Federation (FEFAC) reports that the decline in the pig sector will cause European feed production to decline by 0.5 percent compared to 2015. The predicted 1 percent rise in poultry feed demand will not offset the 3 percent decline in pig feed requirements. (Agrimoney)
India: Minister for Road Transport and Highways Nitin Gadkari confirmed that the government would issue within the month a possible doubling of the ethanol blending policy to 10 percent. Separately, the Indian state-run trading company PEC has asked bidders to extend the validity of the offers to supply 290 KMT of non-GMO yellow corn to 21 January instead of the previous deadline of 18 January. Prices offered ranged from a low of $191.99/MT to a high of $245/MT on corn likely originating from Ukraine. India’s feed and starch manufacturers will pay a 25 percent margin to PEC Limited to receive the product. (Reuters/WPI)