Country News
Argentina: Dock workers at the port of Rosario began a strike at midnight on Wednesday in an effort to secure higher wages, according to Reuters. Exceptionally high inflation have made strikes and labor disputes increasingly common in Argentina. Rosario is Argentina’s primary grain exporting hub and this strike comes at the height of the corn harvest.
Russia: The Ministry of Agriculture now predicts that Russia could harvest more than 100 MMT of grain this year, according to Bloomberg News. If this prediction pans out, it will be the first time since 2008 that Russia has brought in over 100 MMT. However, persistent dry weather in Siberia has some analysts tempering these optimistic grain totals. Grain yields so far are 3.55 MT per hectare, which is 0.5 MT greater than last year.
South Africa: Yellow corn for December delivery in Africa’s largest corn producing country rose by 1.5 percent and currently stands at $173/MT, reports Bloomberg News. This is the largest advance in the yellow corn contract since June 27.