Market Perspectives – August 17, 2023

Country News

Argentina: The Rosario Grains Exchange says corn production for the 2023/24 season will be 56 MMT. (AgriCensus)

Brazil: Conab forecasts that corn production this marketing year (2022/23) will be 129.9 MMT and exports will be 50 MMT. AgRural says the corn harvest is 71 percent complete for center-south by August 10, up 7 percent week-on-week. However, the harvest has now slowed due to rain. Imea says the corn harvest is virtually concluded at 51 MMT in Mato Grosso. Anec expects 9 MMT of corn exports in August. (AgriCensus)

Iran: State agency SLAL tendered for 180 KMT of corn with a deadline for bids set for 15 August. (Refinitiv)

Jordan: Government agency MIT tendered for 100-120 KMT of barley for January-February delivery. (AgriCensus)

Russia: Sovecon says exports in July included 800 KMT of barley and 400 KMT of corn. In August, exports are expected to include 500 KMT of barley and 200 KMT of corn. (Reuters)

South Korea: FLC purchased 66 KMT of corn for December delivery in a private deal. NOFI purchased 69 KMT of corn but KFA passed on making any purchase. (AgriCensus)

Ukraine: The Ministry of Agrarian Policy says farmers will harvest 5.8 MMT of barley and 28.1 MMT of corn. (Ukrinform)