Country News
EU: The EU is expected to have corn yields 12 percent above those in 2013, reports Reuters. The current forecast for EU corn stands at 68 MMT, which is 6 percent above last year’s crop. Additionally, it is predicted that farmers will bring in 7.53 MT per hectare, which is up 11.8 percent from last year and 11.1 percent over the five-year average.
Russia: This year’s grain harvest has the potential to be Russia’s largest since the dissolution of the USSR, according to Bloomberg News. Russia’s Grain Union currently estimates the grain harvest at 104 MMT, which because of favorable weather going into the autumn is believed to have the potential to break the 2008 record of 108.2 MMT. Russia’s exports in the season that began July 1 will total at least 30 MMT. The Grain Union estimates that 20 MMT of barley and 12 MMT of corn will be harvested, while 4 MMT of corn and 3 MMT of barley will be exported. Last year, Russia harvested 92.4 MMT of grain and pulses.
South Africa: South African yellow corn has fallest to its lowest level in three years, according to Bloomberg News. Yellow corn for December delivery feel by 1.9 percent to $168/MT. The Crop Estimates Committee increased the country’s yellow corn outlook by 4.6 percent to total some 6.6 MMT.
Ukraine: The Ukrainian winter barley harvest has been completed, and yields are said to be up by 49 percent compared to 2013 with 5.5 MT being harvest per hectare, reports Reuters.