Country News
Argentina: The Buenos Aires Grain Exchange has stated that it expects farmers to plant 3.46 million hectares of corn in 2013/14, according to Reuters. This new prediction is a reduction from previous reports that had indicated an expected total of 3.56 million hectares. Dry weather in the Pampas region has forced the reduction.
France: Grain exports from the port of Rouen fell by 46 percent this week due to reduced shipments of barley and wheat. Total exports fell to 142,486 MT in the period fo September 26 to October 2, which is down from 266,300 MT the week before. Saudi Arabia remains the biggest destination for barley and 40,000 MT was shipped this week, which was a reduction from 45,000 MT the week prior.
South Africa: Yellow corn futures declined for the first time in three weeks, and yellow corn for December delivery dropped 0.4 percent to $215/MT, reports Bloomberg News.
Ukraine: Agriculture minister Mykola Prysyazhnyuk has stated that heavy rains in Ukraine have potential of cutting the total area of winter grain plantings by up to 1.5 million hectares, or 20 percent, according to Reuters. While a large reduction in its own right, this prediction is dwarfed by an earlier one made by the Ukrainian grain lobby that called for a 60 percent reduction. The minister indicated that winter barley could fall from the earlier prediction of 1.23 milltion hectares to a total of less than 500,000 hectares. Despite the weather, Ukraine is set to export the first shipments of corn in its $1.5 billion contract to China. As of September 30, Ukraine has exported 3.5 MMT of corn so far this year from 14 percent of the sown area.