Country News
Brazil: Hoping to capitalize on growing tensions between Russia and the West, Brazil is actively working to increase its export levels of corn to Russia, reports Reuters. The Russian government has dispatched officials to South American embassies, including those of Brazil, Argentina and Chile, to try and make up for any shortfall that its embargo on Western food imports might cause.
China: Chinese corn output could see its first decline in five years due to the persistent drought on the North China Plain, according to Bloomberg News. Output in what is traditionally China’s second-largest corn producing region may fall to 200 MMT down from last year’s record high 203 MMT. Corn output in other provinces, including Henan, Hebei, Shandong, Shaanxi and Inner Mongolia, is also expected to be negatively impacted. Henan province, which was the country’s fifth-largest corn producer last year, will likely see a 12.2 percent yield reduction this year.
Russia: The Russian government has announced that its ban on Western food imports will have no impact on its own grain exports, according to Reuters. Russian grain exports are expected to be 25 MMT in the 2014/15 marketing year, which is a minor decline from the 25.4 MMT seen last year.