Country News
India: Untimely rains have damaged 5-7 percent of the corn crop and prices are now high enough to prevent exports. If imports are required, CNF prices would be in the range of $235-240/MT, though there is no non-GMO supply available. (WPI)
Philippines: A joint project by Century Properties Inc., (CPI) and Precision Agriculture Management and Grains Development-Southeast Asia (PAMGD-SEA) has been initiated and will result in the annual production of 90,000 MT of genetically modified (GM) yellow corn. (BusinessWorld, Philippines)
Tanzania: In contrast to other parts of Sub-Saharan Africa, Tanzania has had very good maize production for three years in a row and is now exporting surplus stocks to neighboring countries. (WPI)
Ukraine: The feed market is inverted due to a lack of quality corn. Feed corn is currently more expensive than 3rd grade wheat and 4th grade wheat, but it usually trades around the same or at a $10/MT discount to feed wheat. (WPI)