Country News
Argentina: Sales of 2022/23 corn are down and there is a large volume of unpriced corn. (AgriCensus)
Brazil: FAS estimates the corn crop at 125.5 MMT, up 500 KMT from the last WASDE. The consultancy Safras & Mercado lowered its corn production estimate by 1.3 MMT to 125.3 MMT. Harvesting the summer crop lags even as planting of the safrhina crop begins. Exporters association Anec says corn exports in January were 4.991 MMT versus the 5.2 MMT in the forecast. (BrownfieldNews; AgriCensus; Reuters)
Egypt: The state grain importer GASC canceled a corn tender despite prices offered dropping by $36/MT. It made a rare second tender for imported corn with delivery in February-March. (AgriCensus)
Jordan: The state grain buyer purchased 50 KMT of animal feed barley sourced from optional origins and with delivery in June. (Refinitiv)
Mexico: The government is imposing a temporary 50 percent export tax on white corn to tame tortilla prices. (Bloomberg)
Russia: Buyers are beginning to look at Russian corn given the problems faced by other suppliers in the Black Sea region. (AgriCensus)
South Korea: NOFI purchased 117.5 KMT of corn in a tender. (AgriCensus)
Ukraine: The corn harvest is now 90 percent complete with 25.2 MMT collected. The agriculture producers union says that the lack of money and electricity blackouts could cause the area planted to corn to fall by up to 35 percent in 2023. Meanwhile, grain corridor inspections are slow and that agreement will expire on 19 March. (Reuters; AgriCensus)