Country News
Argentina: A poor corn crop in 2022/23 is expected to rebound in 2023/24 with 54 MMT expected provided soil moisture is recharged. A record high 38 MMT of corn exports could be the result. (World Grain; FAS GAIN)
Brazil: Corn prices have fallen to near breakeven levels, giving soybeans the edge in competing for tight logistics. Exporters association Anec sees slightly lower corn exports in April at 166,552 MT. (Reuters; AgriCensus)
Canada: Oat seeding for 2023 is 22.4 percent lower than in 2022 and will cover 3.1 million acres. (Refinitiv)
Philippines: The Philippines San Miguel booked a shipment of corn under the government’s preferential tariff. The tariff was slashed when the Ukraine war caused supply chain problems. (AgriCensus)
South Africa: The Crop Estimates Committee says maize production could hit 15.9 MMT. (AgriCensus)
South Korea: NOFI bought 137 KMT of corn in two consignments at around $267.98/MT C&F plus a $1.50/MT additional port discharge surcharge. Arrival is scheduled for September and October. Both MFG and KFA Incheon boult corn privately. (Reuters; AgriCensus)
Turkey: The government imposed a 130 percent tariff on imported corn as it seeks to protect local agriculture ahead of a 14 May election. (Refinitiv)