Country News
Brazil: Somar Meteorlogica has announced that a predicted increase in rainfall next month will likely cause disruptions for grain loading at the country’s main ports, according to Bloomberg News. It is predicted that rain will fall for the vast majority of March at the ports of Santos and Paranagua. Additionally, Brazilian corn futures have jumped by 9.2 percent due to persistent dry weather in February that is threatening output. The potential for a slowdown in loadings due to the predicted rain could push these futures even higher. It is predicted that Brazil will bring in 75 MMT of corn this year, which is down from an earlier forecast of 79 MMT.
Japan: The Ministry of Agriculture received no bids for the importation of feed barley or feed wheat in its weekly auction that closed on Wednesday, reports Reuters. The MOA had sought 120,000 MT of feed wheat and 200,000 MT of feed barley and will seek the same amounts in a tender that closes February 26.
South Africa: Yellow corn prices fell by 0.4 percent to 204.44/MT, according to Bloomberg News.