Country News
China: Shanghai JC Intelligence Co. Ltd. reports that animal-feed mills are turning to imports of sorghum because bad weather and rail disruptions have prevented the flow of corn from the Northeast production region. The feed mills need to build inventory, and corn on the Dalian Exchange climbed 1.2 percent to 1,642 yuan ($238.74)/MT – the highest close in five months. (Bloomberg)
Japan: Purchases of U.S. corn this month are at more than 900 KMT due to attractive discounts. Nearby shipments are now favored. (Bloomberg)
South Africa: Yellow corn rallied the most in a month ($225/MT) as the rand slid the most in value in five years against the U.S. dollar. This has made domestic corn farm more competitive over imported product. (Bloomberg)
South Korea: The country’s largest animal feed maker, Nonghyup Feed Inc., purchased 68 KMT optional origin corn at $183.99/MT C&F plus a $1.25/MT port unloading charge. South Korean feed mills have stepped up their non-tender corn purchases in recent days. (Reuters)