Country News
Bolivia: Authorities are fumigating crops to stop a locust swarm that has destroyed 1,000 hectares of corn and sorghum thus far. The battle may take a while due to the challenge of finding all of the eggs and larvae. The country suffered a drought last year and growers have asked the government to approve genetically modified seeds to help overcome farming risks. (Reuters)
China: Beijing’s State Administration of Grain advised four northern provinces to provide subsidies to aid in the disappearance of surplus corn but traders says it will have little impact. Reasons given for its limited impact include: 1) details are limited; 2) most feed millers are located in the south; 3) the reserve funds being used are very limited; 4) only a limited number of companies are eligible due to the size floor being imposed; and 5) the limited time the subsidies are available – by end of April. (Platts)
European Union: Strategie Grains raised its forecast for the amount of corn and barley that will be produced in the EU this year. (Reuters)
Japan: Heavy storms in the U.S. Pacific Northwest have delayed corn shipments to Japan. To help with a domestic shortage, MAFF approved the use of corn from emergency stockpiles to help feedmakers. (Reuters)
Korea: Nonghyup Feed Inc. (NOFI) purchased 210 KMT of optional origin corn but rejected all offers on a tender for 65 KMT of corn that closed on February 16. (Reuters)
Libya: The state grain buying agency issued a tender for grain that includes 75 KMT of yellow corn and 75 KMT of feed barley. The tender deadline is Sunday, February 19 with delivery by the end of May. (Reuters)