Market Perspectives August 3, 2017

Country News

Brazil: The national supply company Conab said that subsidies would be offered to farmers to compel them to sell 752 KMT of corn at below the government’s set minimum price. A total of 11 MMT of corn will be subsidized in this manner this season. (Bloomberg) 

China: The National Grain Trade Centre reports that 1.5 MMT of corn was sold from state reserves this past Friday (July 28) and 3.47 MMT of corn will be offered by Sinograin this week. Only 12 percent of the 600 KMT offered for sale on August 3 sold and averaged a price of 1,439 yuan/MT ($214.03). 

The National Grain and Oils Information Centre says that 10 MMT of corn could move into the market in August to get ahead of newly harvested corn becoming available in September. (Bloomberg) 

Colombia: USDA reports that Colombia bought 150 KMT of corn for delivery this marketing year. (Reuters) 

Kenya: Kenya’s Agriculture Ministry disputes a report from the Regional Agricultural Trade Intelligence Network that Kenyans are paying 5,849 shillings per 90-kilogram bag of corn. The Ministry insists that the price is 35 percent less than that ahead of Kenyans going to the election polls on Tuesday of next week. (Business Daily) 

United Kingdom: Liquid biofuels will still be needed despite the government’s ban on new diesel and petrol cars by 2040. There are still parts of the transport sector (aviation, shipping) that cannot be electrified. Additional, hybrid vehicles have proved more successfully than purely electric ones. (The Edinburgh Reporter) 

Separately, distillers in Scotland are hailing a new malt barley variety called KWS Sassy that is destined to replace the Concerto variety. KWS Sassy is quick to establish, shows good tillering, has a 12 percent higher yield and quality is consistent or better. (Food Navigator)