Country News
Algeria: The state agency OAIC purchased 205 KMT of barley for delivery in February/March and paid $16/MT more than in its previous tender. (Reuters)
Argentina: The Rosario Grain Exchange (BCR) reduced its estimate of the 2021/22 corn crop to 48 MMT. The Buenos Aires Grain Exchange says corn rated good/excellent has fallen to 23 percent with almost 36 percent rated poor to very poor and that forward corn sales are down. (AgriCensus)
Brazil: The consultancy Safras & Mercado lowered its estimate of the total 2021/22 corn crop by 0.38 percent to 115.64 MMT. The Rio Grande do Sul corn harvest is 20 percent complete. (Reuters; Emater)
Canada: With grain output down by 40 percent last year due to drought, Canada is now a major buyer of U.S. corn, committing to 3.2 MMT in purchases. That is the most in two decades and compares to just 457 KMT last year. (Bloomberg)
China: Corn imports in 2021 were 28.35 MMT, according to the General Administration of Customs, a 152 percent increase over 2020. At 12.48 MMT, barley imports were up 54.5 percent, and sorghum imports were up 95.6 percent to 9.42 MMT. Imports slowed by 40 percent in December as a large domestic crop took over supplies. A freight train with 1,300 MT of corn arrived in Lanzhou in Gansu province after a week-long journey from Kazakhstan. (Reuters; Hellenic Shipping News)
India: Gujara Ambuja Exports set up a greenfield corn wet milling mill at Sitarganj, Uttaranchal to produce starch and derivatives. The 1,000 MT per day plant will more than double the company’s capacity. (Business Standard)
South Korea: MFG bought 198 KMT of corn for April-May delivery. The corn was bought in three consignments ranging in value from $327.69 to $328.20/MT C&F plus a $1.50-1.75/MT surcharge for multiple port off-loadings. FLC picked up 65 KMT at $328/MT, and NOFI and KFA had jointly purchased 260 KMT of corn. (Reuters; AgriCensus)
Turkey: The state grain board TMO tendered for 345 KMT of barley, taking an initial 125 KMT according to European traders. (Reuters)