Country News
Africa: The Alliance for a Green Revolution in Africa (AGRA) plans to invest $500 million in seed projects on the continent. The group’s effort to date has already doubled the output of the maize crop. (Bloomberg)
Brazil: CONAB reduced its projected corn production number this year by 1.5 percent to 67 MMT and corn exports are falling accordingly. Separately, the government this past week approved the use of one stacked-trait GMO corn event and is expected to consider three others on October 6. The events are being pushed through because the country’s livestock feeders are short of grain and must import from the U.S. (Bloomberg)
China: Farmers in Heilongjiang Province will be offered “rotation” subsidies ($135.66/acre; $335/hectare) to grow soybeans instead of corn. Meanwhile, Chinese farmers are being offered a soybean target price that is double the world price. Separately, China’s National Grain and Oils Information Center has raised its current corn crop production estimate to 219.5 MMT, and the government sold 13 percent of its reserve corn at this week’s auction. (Bloomberg)
Colombia: Although domestic production of ethanol has increased, the supply is too little to meet the country’s E8 mandate and imports may be needed. (FAS)