Market Perspectives – August 4, 2022

Country News

Argentina: Farmer sales of corn have picked up, despite export tax and fears of inflation. The Rosario exchange says sales hit 6 MMT for 2022/23, the largest in the history of recent campaigns for this time period. (Mercopress; AgriCensus)

EU: France had its driest July on record as the corn crop condition fell to 68 percent in very good condition. Germany’s corn crop has also been hit by drought. The EU corn crop was but by 8 percent (5.9 MMT) to 65.8 MMT, down almost 10 percent from a year ago. (MARS)

Jordan: MIT purchased 60 KMT of barley for January 2023 delivery. (AgriCensus)

Taiwan: MFIG bought 55 KMT of corn from Viterra. (AgriCenus)

Tunisia: ODC purchased 50 KMT of corn for delivery during August0October. (AgriCensus)

Ukraine: A ship loaded with 26,527 MT of corn was the first to depart a Ukrainian port under the new deal and arrived in Turkey. The restrictive conditions and limited port availability makes it unlikely exports of grain will reach the 5-6 MMT/month achieved before the war. (Reuters)