Country News
Argentina: According to the Buenos Aires Grain Exchange report of last Thursday, the corn harvest was at about 4 percent, but quick progress should be made in coming days if good weather conditions materialize as forecast. Yields could be slightly higher than expected, and production could be close to 27 MMT even though the Buenos Aires Grain Exchange is still forecasting 25 MMT. (WPI)
China: Plunging prices are causing Chinese grain farmers to rethink about planting corn, which is unprofitable. Corn stocks are large and farmers may cut production area but seek to use better quality seed for what they do produce. The new government support policy will be issued in the coming days but it is already clear that it will place less emphasis on production volume and more on farmland improvement and technology application. (Xinhua News Agency)
Kenya: Maize production will rise about 2 percent to 2.85 MMT and imports will rise 10 percent to 1 MMT as production continues to fall short of demand due to problems with disease and soil conditions. (WPI)
Saudi Arabia: Corn imports will rise about 15 percent in 2016/17 to 3.5 MMT with the U.S. supplying about 40 percent of it. (WPI)
Zimbabwe: With the purchase of 469 KMT completed, Harare is expected to contract for at least an additional 230 KMT. (Bloomberg)