Country News
Argentina: The Rosario Grain Exchange says the 2018/19 corn crop will hit 48 MMT; USDA pegs it at 47 MMT versus a trade guess of 46.44 MMT. However, corn exports are blunted as farmers prioritize moving out soybeans. (Reuters; AgriCensus)
Brazil: CONAB says the 2018/19 corn crop is 94.008 MMT, USDA pegs it at 96 MMT, the trade survey says 94.83 MMT, but optimists say it could be 100 MMT. Perfect weather prompted AgRural to assess that the portion of the corn crop deemed “excellent potential” actually is larger by 3.2 MMT. However, the safrinha crop still must get through April and May. Corn exports surged in March, supplanting soybeans exports, but recently lower prices have dimmed interest in sales. (Reuters; AgriCensus)
Dominican Republic: Despite avian influenza, the DR will import more corn. (AgriCensus)
France: Barley planted area is up 8 percent on the year as spring plantings surge forward. Dry, mild weather is also advancing corn plantings. (AgriCensus)
Iran: State importer SLAL bought barley and its corn tender attracted interest in Brazil. (AgriCensus)
South Korea: The Major Feedmill Group (MFG) bought 69 KMT of optional origin corn with one consignment at $187.99/MT plus $1.25/MT surcharge for additional port offloading. Nonghyup Feed Inc. (NOFI) issued a tender for 138 KMT of corn and purchased two cargoes of corn from Glencore for delivery in November. (Reuters)
Taiwan: Fear of adverse impacts from African Swine Fever prompted a 27 percent draw down in corn stocks. (AgriCensus)