Market Perspectives – August 31, 2023

Country News

Argentina: The corn harvest is 96.9 percent completed with 32.9 MMT collected. (AgriCensus)

Australia: China has bought 600 KMT of Australian barley since Beijing lifted the punitive 80.5 percent tariff and the first shipment loaded and left port. (Refinitiv)

Brazil: The safrinha corn crop is 83 percent harvested. For a third consecutive year, the volume of corn exported via the Amazon waterways and northern ports exceeds the amount trucked to the port of Santos. This has greatly improved efficiency. (Refinitiv)

Canada: StatsCanada says the barley crop will be 7.9 MMT, down more than 20 percent from the 10 MMT crop in 2022. The oat crop is 2.4 MMT, down over 50 percent from the 5.2 MMT produced in 2022. (Refinitiv)

EU: FranceAgriMer reports that the share of the corn crop rated good/excellent is 82 percent, a drop from 84 percent a week earlier. Germany’s crop production has been hurt by what some have called this summer’s “freak weather.” The EU reduced its forecast for maize production by 1 percent to 7.45 MMT, and the spring barley crop by 1 percent to 3.6 MMT. (Reuters; AgriCensus)

Jordan: Government agency MIT tendered for 100-120 KMT of barley and purchased 60 KMT for February delivery. (AgriCensus)

Tunisia: Government agency ODC tendered for 50 KMT of barley (AgriCensus)