Country News
EU: The EU has taken steps toward making imports of Ukrainian grain duty-free as part of a larger trade package aimed to facilitate Ukraine’s drift away from Moscow, according to Reuters. If the measure is approved, a duty-free quota would be open until October 31 for the importation of 400,000 MT of Ukrainian corn and 250,000 MT of barley. A proposed comprehensive free-trade agreement that could come into effect later this year would set quotas for corn at 650,000 MT and barley at 350,000 MT.
Japan: The Ministry of Agriculture has announced that it will import 25,970 MT of feed wheat and 41,150 MT of barley following an auction that closed on Wednesday, according to Reuters. MOA had sought 120,000 MT of wheat and 200,000 MT of barley in the weekly tender and will seek the same amounts on April 16. The cargoes for both dates must be loaded by July 31 or arrive in Japan by September 30.
South Africa: Yellow corn prices declined to $207.61/MT, reports Bloomberg News. The decline comes after a USDA report indicating that grain stockpiles in South Africa were larger than earlier estimated.
Ukraine: Ukraine’s corn crop may decline by 18 percent this year as farmers reduce planting acreage for the first time in five years and limit their use of inputs due to a currency that has fallen by 34 percent against the dollar and reduced credit availability, according to Bloomberg News. Production may decline to 23.3 MMT, which is a major reduction from the 30.9 MMT of corn brought in last year, but above the 20.9 MMT in 2012.