Country News
Argentina: Rain delays in getting corn to Upriver markets has exporters nervous. (AgriCensus)
Brazil: With harvesting of the second crop corn nearing 5 percent, forecasters like AgRural and Conab have increased the expected total output of corn this season to above 100 MMT and USDA affirmed this with a predicted 101 MMT in the latest WASDE. Meanwhile, corn exports fell during the first week of June. (AgriCensus; USDA)
China: Impacting feed demand, the pig herd was down 23 percent in May. USDA Under Secretary Ted McKinney testified to Congress that a third of the Chinese pig herd may be gone, and it could be higher. Despite attacks by the fall army worm, the output of corn in 2019/20 may be higher; corn sales fell 14 percent despite lower asking prices. (AgriCensus; YouTube)
EU: The conditions for the French barley crop have been lowered. (AgriCensus)
India: Multiple delays in MMTC’s tendering for additional corn has now created skepticism that there will be any more purchases. (AgriCensus; Reuters)
South Korea: Major feed buyers NOFI and MFG tendered for a total of five corn shipments but ultimately bought only two. Meanwhile, KFA purchased corn privately, as did FLC, buying 65 KMT at $211.90 C&F plus a surcharge. (AgriCensus; Reuters)
Taiwan: The fall army worm is not limited to mainland countries as the corn crop on Taiwan is now threatened by the pest. (AgriCensus; Reuters)
Ukraine: Corn exports are closing in on the Agriculture Ministry’s forecast of 28.2 MMT. Meanwhile, harvesting of the 2019/20 barley crop has begun in the south. And at 4.77 million hectares, this year’s corn planted area now exceeds last year’s production zone by 2 percent. (AgriCensus; Reuters)