Country News
Argentina: The Buenos Aires Grain Exchange raised its corn production estimate by 2.5 MMT to 48.5 MMT. (Reuters)
Brazil: Mato Grosso’s safrinha corn planting is only 21 percent complete, versus the 63 percent average. This could push crop maturation into the drier end of the growing season. Parana state’s corn planting is at 8 percent as the window begins to close. (Reuters; AgriCensus)
China: American Farm Bureau Federation chief economist John Newton says China can import U.S. corn at the equivalent of a $3/bushel discount to its own domestic crop pricing. (Farm Journal)
EU: Weekly corn imports into Europe are the lowest level so far in 2020/21 marketing year. (AgriCensus)
Mexico: The government’s plan to stop importing GMO corn and the use of the herbicide glyphosate will likely face legal challenges according to the new head of Mexico’s top farm lobby. It may also be subject to challenge under the USMCA. (Reuters)
South Korea: The Major Feedmill Group (MFG) bought 69 KMT of corn for June arrival. (AgriCensus)
South Africa: The government’s Commodity Estimates Committee reports that the final 2020 corn crop production level was cut by 0.7 percent to 15.3 MMT. (AgriCensus)
Turkey: TMO buys 235,000 MT of corn as price rises $7/MT (AgriCensus)
Ukraine: Domestic CPT corn prices hit par with FOB export prices and exporters await demand from the EU and China. (AgriCensus)