Country News
China: Chinese officials are requiring all imports of feeds such as barley, sorghum and distiller grains to be registered; the registration process with begin on September 1. China’s domestic buyers have increased imports of such feeds as an alternative to expensive state-held corn reserves and now the Chinese government intends to monitor those imports. Longer-term, China’s sizable domestic corn stocks seem likely to shrink because the Chinese government is reintroducing a 13 percent value added tax on all fertilizer imports as it seeks to curb what it calls “overuse.” The Chinese government intends to bring growth in commercial fertilizer use to zero by 2020, according to a story by Reuters.
France: French corn production could decline this season by up to 28 percent below last year’s record according to Reuters. Hot and dry weather has reduced corn yield potential and total production is estimated to be approximately 13.2 MMT. The weather did not have the same negative affect on French barley production, which is estimated to be slightly above last year’s production at 11.8 MMT.
Russia: While Russia is poised to produce its second largest grain harvest on record due to a favorable wheat crop, its corn crop is currently estimated to be 12 MMT and could be revised downward because of less-than-ideal weather in the nation’s southern regions, according to Reuters.
Ukraine: Ukrainian grain exports to China are 800,000 MT so far year and total corn exports to China are anticipated to reach 3 MMT this year, according to Reuters. Corn and barley are the primary grain exports from Ukraine to China.