Country News
Brazil: Brazil’s corn crop is predicted to total 81 MMT this year as bountiful precipitation has ensured high yields, according to Bloomberg News. However, farmers may have trouble exporting corn to their fullest potential due to Brazil’s limited port capacity.
China: The Chinese government’s State Administration of Grain is predicting that the government’s corn stockpiles may rise to a record level of 102 MMT (up 4 MMT from a May forecast) and has not yet determined the domestic price, reports Reuters. Domestic corn sales are struggling because of the gap between internal and external prices, which has led to an increase in barley and sorghum imports. Barley imports are set to be 7.5 MMT in 2014/15, which is up from 4.3 MMT last year while sorghum imports will total 8.5 MMT compared to 3.4 last year.
Iraq: Senior Grain Board of Iraq official Saad al Hamdinee is reporting that government forces have recaptured grain silos previously seized in the Islamic State’s offensive last year, according to Reuters. Most of the grain held in the silos is now unusable due to militants sabotaging it in their retreat. The areas recaptured include grain-growing locations such as the town of al-Alam that produces 60,000 MT of grain and fertile land around Samarra that produces 120,000 MT annually. Mr. Hamdinee indicated that the government would seek to salvage the storage facilities to whatever extent possible.