Country News
Brazil: Farmers have been forward selling grain at large levels in reaction to the country’s weak currency. The safrinha corn crop is still in its growth stage and the lack of moisture could cause it to come up short of previous expectations. AgRural has cut its estimate of corn output by 2 percent but earlier this month the official agency Conab increased its own prediction by 2 MMT. It hasn’t been a drought but there has been pronounced dryness. (Reuters)
China: The purchase of up to 20 MMT of U.S. corn is being considered in order to fulfill Phase I trade agreement obligations and create a food security buffer. (Reuters)
EU: Climate change is reducing soil moisture in key corn growing areas of Europe, according to the Copernicus Climate Change Service. The EU’s Joint Research Center sees more severe drought in southern Europe for decades to come. Summers are becoming hotter and the soils drier. (Bloomberg)
Japan: The Ministry of Agriculture, Forestry and Fisheries (MAFF) received no offers for feed barley in a simultaneous buy and sell (SBS) auction seeking 100 KMT for loading by 31 July and delivery by 24 September. (Reuters)
Jordan: The state grain buying agency tendered but did not purchase 120 KMT of feed barley. The November shipping period sought in the tender is difficult due to the ongoing uncertainty about Black Sea production. (Reuters)
Kenya: Current food stocks are sufficient until the end of June, when imports of corn may be required. The government will allow in 360 KMT of corn split half white and half yellow. (Bloomberg)
Saudi Arabia: The end of most subsidies for animal feed means that corn imports this year will be down 18 percent to 3.3 MMT. (FAS/GAIN)
South Korea: The Major Feedmill Group (MFG) skipped doing an international tender and privately purchased 138 KMT of corn from South America bringing its April purchasing to 950 KMT. The Korean Feed Association (KFA) bought 58 KMT of South American corn for delivery around 25 October. (Reuters; AgriCensus)
Taiwan: The MFIG purchasing group tendered and bought 117 KMT from Brazil and South Africa corn for July/August shipment. (Reuters)
Ukraine: Corn exports in 2019/20 were 25.2 MMT but may now get squeezed by EU import duties. The country exported 4.5 MMT of barley. However, the Ukrainian Agribusiness Club says that during the first quarter of 2020, corn exports were up 8 percent and barley exports were 132 percent above the same period last year. (AgriCensus; Kyiv Post)