Country News
Argentina: Farmers will start harvesting corn in a few weeks with exports expected to increase during the July/August period. Premiums may fall but farmer selling at this juncture is minimal and prices are going up. (WPI)
China: Beijing estimates a 3-million-hectare decline in corn planted area this year as a result of recent policy changes. Meanwhile, corn planting conditions may not be optimal in China after an April that threw very cold and wet (soil moisture at 40 percent) weather at the Northeast and put Shandong Province through a very hot and dry spell – all of which is typical for the tail end of an El Niño period. (Reuters; weathertrends360)
EU: The EU Commission estimates the 2016 corn harvest at 65.3 MMT, leading to sharply reduced imports and a 1 MMT increase in carryover stocks. This contrasts with last year when it was a leading importer of corn due to drought. (DG-Agri)
Kenya: Field trials for GM maize will be conducted over the next two years with commercialization expected in 2018. (Reuters)