Market Perspectives – January 19, 2023

Country News

Australia: Hope is rising that bilateral talks could restart the tradition of supplying barley to China. Sales stopped as Beijing punished Canberra over a call to investigate Covid. (AgriCensus)

China: Corn production surpassed rice in 2012 and last year corn comprised 43 percent of total cereal production, versus 34 percent for rice. Corn imports in 2022 were down 27.3 percent year-on-year. (Statista; AgriCensus)

Egypt: State-owned General Authority for Supply Commodities issued its first ever tender for corn with delivery slated for 10-25 February. (North Africa Post)

Mexico: A 50 percent export tariff will be applied to white corn until 30 June in an effort to tamp down high tortilla prices. (World Grain)

Russia: The government increased the export tax on barley. (AgriCensus)

Ukraine: Agriculture Minister Mykola Solskyi says that poor weather conditions have hurt the corn crop, with up to 10-15 percent of it lost. Large swings in temperature make it difficult for farmers to work and the quality will be damaged. (Successful Farming)