Country News
Argentina: The Buenos Aires Grain Exchange estimates the country’s 2018-19 corn harvest at 46 MMT, up 1 MMT from last month due to favorable weather and thus better yields. Still, corn exports are 14 percent lower thus far versus last year. (Reuters; AgriCensus)
Brazil: At 66 MMT, the country’s corn crop will be 23 percent larger than last year’s but there is the threat of dryness and cooler temperatures on the horizon. In some areas, the temperature has gotten down close to freezing. (Reuters)
India: The government clarified some of the terms of its 100 KMT corn import requirements, and it extended the deadline until 30 April. (AgriCensus)
Indonesia: Government incentives will boost corn production from 12.6 MMT last year to 13.3 MMT in 2019-20. Restrictions protect domestic prices from lower global levels, but corn import needs will still rise from 550 KMT last year to 850 KMT in 2018-19. (USDA/FAS)
Israel: Corn import needs will rise by 6 percent in 2019/20. (USDA/FAS)
Mozambique: The cyclone that ripped through parts of the country has spiked cases of cholera and caused corn prices to jump. The government says that more than 700,000 hectares of farmland was flooded, and corn import requirements could double to 200 KMT. A 25-kilogram sack of corn flour that previously cost USD $13 now runs $18.35. (Reuters; AgBiz)
South Korea: NOFI purchased 69 KMT at $189.82/MT for October delivery. This followed a NOFI purchase of 134 KMT last Friday, plus a private purchase by MFG. Other private purchases were made by FLC from COFCO at $191.49/MT, and by KFA for 65 KMT at $188.50 for October delivery at Inchon. KOKOPIA picked up an additional 130 KMT at tender. A flurry of corn buying taking in a quarter of annual needs was spurred by the decrease in corn prices. (AgriCensus)
Tunisia: A bumper crop of domestically produced barley will reduce the country’s import needs. (USDA/FAS)
Ukraine: There are still several weeks left to go in the marketing year campaign, but corn exports have already hit a record 19.5 MMT. (AgriCensus)