Country News
Algeria: The state grain buying agency ONAB bought 40 KMT of U.S. corn for April/May delivery. (Reuters)
Argentina: The Ministry of Agriculture says the corn harvest is at nearly 16 percent, which is on schedule but there are concerns that the main transportation centers have slowed due to the coronavirus. (Reuters)
Brazil: The Parana Secretary of State of Agriculture and Supply says the safrinha corn crop is 99 percent of the 2.19 million hectares planted. The first crop corn is 85 percent harvested and is 9.4 percent larger than last year’s output. Scarce rain remains a concern in Mato Grosso do Sul, Sao Paulo and Parana. Deral-PR says Parana’s safrinha corn output will be smaller due to dry weather. Meanwhile, corn exports in March for Brazil were down 40.2 percent year on year. (SPG Global Platts; Reuters; Argus Media)
China: There was a purchase of 756 KMT of corn from the U.S. The fall in prices is spurring Chinese buyers to inquire about more corn and more sorghum. U.S. corn is priced at least 6 percent lower than China’s domestic corn, and demand for feed is rising. (USDA/FAS, AgWeb; Bloomberg)
EU: French spring barley plantings jumped 32 percent on drier weather. (AgriCensus)
Russia: A proposed grain export cap of 7 MMT would include barley and corn. The Agriculture Ministry says it will ensure the stability of the domestic food market but right now the policy is to use reserves to soften prices. (Reuters)
South Korea: The Kocopia corn processing association purchased 60 KMT of U.S. non-GMO corn at $209.65/MT for its food processing needs. (AgriCensus)
Ukraine: Ministry for Development of Economy, Trade and Agriculture reports that good weather has enabled an early start to the new season’s corn planting. The first 610 hectares were planted as of 26 March and total sown area is expected to rise by 8 percent. (Reuters)
Vietnam: Fearful that it would not be able to get corn lifted out of the Americas, Vietnam made a rare purchase of 140 KMT of Ukrainian corn in an arbitrage trade. (AgriCensus)