Country News
Argentina: The Buenos Aires Exchange lowered the 2019/20 corn planted area by 100,000 hectares to 6.3 million as a result of dry conditions. (Reuters)
Brazil: Corn inventories are tight due to earlier aggressive exporting and growing domestic demand for livestock feed and ethanol. Exports in November collapsed by 55 percent. Nonetheless, total 2019 corn exports reported by the exporter group Anec was 41 MMT, up 80 percent from the 22.8 MMT exported in 2018. A Reuters survey of analysts says that 2019/20 corn planting will be 18 million hectares, up 3.5 percent from the previous year and a record. Despite a likely delay in planting the safrinha crop, total corn production could reach 101 MMT. Safras & Mercado say corn planting is at 84.2 percent. Rabobank says domestic utilization will rise 6 percent in 2020, denting exports. (AgriCensus; Refinitiv; Reuters; AgRural)
Canada: Barley exports hit 115,600 MT last week, bringing total sales to 606 KMT. At the same time feed barley prices have hit their highest levels since August. (FarmLead)
EU: French barley quality was lowered as heavy rain continues to delay harvesting. Meanwhile, the EU extended punitive tariffs on imports of sweet corn from Thailand for five more years. (FranceAgriMer; Refinitiv; Bangkok Post)
South Africa: The Crop Estimates Committee pegged the final corn crop number for 2019 at 11.258 MMT, up 0.6 percent from October. (AgriCensus)
South Korea: After a two-month hiatus from the world market due to ASF, the feed industry bought over 1 MMT of corn. NOFI purchased 65 KMT of corn from the Black Sea plus made a private purchase at $203/MT. MFG and KFA bought corn for 2020 delivery and MFIG’s purchase of 65 KMT was from Argentina with February/March delivery. (AgriCensus)
Taiwan: MFIG purchased corn at 156.7 premium over March. (AgriCensus)
Vietnam: Corn import needs will be lower in 2020 as inventories are ample amidst ASF. (AgriCensus)
Zimbabwe: The government has decided against cutting subsidies that reduce the cost of corn meal. (AgriCensus)