Country News
Argentina: Due to drought conditions, Gro’s Yield Forecast Model pegs corn production at 27 percent less than USDA’s current forecast. The crop could be damaged further by hot and dry conditions as the crop begins to silk. (Gro Intelligence)
Australia: A large barley crop is dropping prices with values in Port Kembla, where supplies are the biggest, the price is $250/MT. In Geelong they are close to $300 and in Port Adelaide it is $314/MT. Quality issues in New South Wales could be impacting prices. Barley is priced to compete with wheat in feed rations and local demand keeps it priced above Chicago. (Mercado)
Brazil: State agriculture agency Deral says Parana’s summer corn crop is 8 percent harvested, up from 1 percent a week ago and conditions have been upgraded. Areas rated ‘good’ increased to 38 percent as of January 24 versus 31 percent in the previous week. Second corn-crop safrinha planting reached 5 percent, up by 3 percent on the week, with most of the area rated good. Conab says corn losses have increased and losses in corn and soybeans in Rio Grande do Sul have reached $6.6 billion. (Reuters; AgriCensus)
Canada: AgCanada predicts that in 2022 the area planted to corn will rise 0.5 percent but the expansion in land planted to soybeans will be 7 percent. Barley production is expected to be 10.6 MMT in 2022/23, up from the drought-stricken crop last year at 6.9 MMT, but still below the 10.7 MMT produced in 2020/21. (Reuters; MarketScreener)
China: To boost self-sufficiency in soybeans, the government will encourage farmers to seasonally rotate the planting of corn and soybeans on one million hectares of land. The government approved the planting of domestically developed GM corn. The General Administration of Customs says imports of corn from the U.S. were 240 KMT in December, a sharp drop from previous months and the lowest for the month since December 2018. High prices forced buyers to seek cheaper sources such as Ukraine and Bulgaria. (Reuters; AgriCensus; Argus Media)
Iran: State-owned animal feed importer SLAL tendered for 60 KMT of barley and 60 KMT of corn. Bids were due on 26 January. (Reuters)
Jordan: The state grains buyer re-issued a tender for 120 KMT of animal feed barley after an earlier postponement. The new deadline for price submissions is February 2. (Reuters)
Russia: The government cut the export tax on barley but moved the tariff higher on corn. (AgriCensus)
South Korea: Animal feed maker Nonghyup Feed Inc (NOFI) bought 193 KMT of corn in three consignments with outright prices at $338.95, $336.77 and $336.80/MT CNF plus a surcharge for additional port unloading. MFG tendered for 70 KMT of corn with delivery in April-May. (Reuters; AgriCensus)
Turkey: Government agency TMO purchased 345 KMT of barley for February-March delivery. (AgriCensus)
Ukraine: Between December 24 and January 24, corn exports reached 4.2 MMT. (AgriCensus)