Country News
Brazil: The estimate for corn production this season was raised from 82.04 MMT to 82.3 MMT. (DowJones)
India: Fifteen separate bids were received to supply 260 KMT of non-GMO corn with prices ranging from $192.99-$245/ton. The state-run PEC will tender for an additional 200 KMT with deliveries expected by the end of March.
Russia: Rusagro says that it shipped 10 KMT of corn to Japan. The country is set to become the world’s largest wheat exporter just as the government has proposed an export tax in order to keep enough domestically for affordable animal feed. (Bloomberg/Reuters)
Sweden: Ethanol imports are up sharply, boosted by the purchasing power of a strong krona. (Agra-net)
South Africa: Yellow corn hit its highest price ($222/MT) since 1996 and white corn ($295/MT) is near its historical record. The country needs $1.2 billion to import enough corn to meet demand. There may be contracts with South America to supply white corn later in this marketing year. (Bloomberg)