Country News
Argentina: As expected, corn export bids were priced below Chicago futures. (AgriCensus)
Brazil: The weakening real is causing corn farmers to pay higher prices for inputs, but the weather remains favorable for the current safrinha crop. (AgriCensus)
China: The Agricultural Outlook (2019-2028) anticipates rising corn imports as demand outstrips supply. Ministry of Agriculture official Xu Shiwei said corn imports in 2019 will be up 2.2 percent to 3.6 MMT and will hit 4 MMT in 2020. The destocking effort went very fast and current measures will reduce the corn planting area.
South Africa: Corn imports hit 125,248 MT. (AgriCensus)
Turkey: The government’s TMO launched a tender for 300 KMT of corn and the price averaged $183/MT. (AgriCensus)
Ukraine: Corn production hit 35.8 MMT in 2018-19 and exports have now exceeded 23 MMT, a 64 percent increase over 2017/18. However, production in 2019-20 is expected to decline by 20 percent to 28.3 MMT. This will result in a 26 percent decline in corn exports. Meanwhile, barley planting is nearly completed. (USDA; AgriCensus)