Country News
Brazil: Rainfall in the top corn-producing state of Mato Grosso was slightly above average in December and the southern grain-producing states have also seen significant precipitation and localized flooding, according to Retuers. Rainfall for January is also expected to be above average.
China: Growing demand from China’s livestock feeding sector is responsible for the U.S. selling the highest amount of sorghum in 19 years, reports Bloomberg News. Sorghum sales of 584,324 MT had been reported as of December 18, 2014, with over half going to China. It is predicted that China will import 5 MMT of sorghum in the year-long period that began on October 1, 2014, which is up from the 4.16 MMT it brought in the prior year. The amount of U.S. sorghum inspected for export has doubled from last year to total 2.83 MMT.
Ukraine: Ukraine’s Agricultural Ministry is slated to meet with major grain traders on January 13 to discuss the country’s exports and domestic markets in the wake of Russia’s decision to curb grain exports, according to Reuters. One February 1, Russia is set to implement grain export duties of €35/MT in order to keep its domestic grain prices under control. Ukrainian authorities have previously stated that the country will likely increase the asking price for its grain exports in the wake of Russia’s decision.
Ukrainian grain exports totaled 19.6 MMT between July 1, 2014 and January 6, 2015. These exports included 7.61 MMT of corn and 3.63 MMT of barley, compared to 10.7 MMT of corn and 2.1 MMT of barley exported in the same time last year. Ukraine is expected to export around 33 MMT of grain this year out of a total harvest of 64 MMT. The country exported around 32 MMT of grain last year.