Country News
Algeria: State agency ONAB tendered for 140 KMT of corn and 105 KMT was believed to be purchased at $260/MT C&F based on optional origin and delivery in June/July. (Refinitiv)
Brazil: Conab increased its estimate for the safrinha corn crop to 96.3 MMT and increased the overall corn crop by 0.15 percent. AgRural says 2.2 percent of the overall safrinha corn crop has been harvested. The amount of corn rated good in Paraná was lowered. IMEA reports that with 3.9 percent completed, forward sales of corn in Mato Grosso have increased. Emater says the Rio Grande do Sul corn harvest is near complete. (Reuters; AgriCensus)
EU: European grain trade association Coceral lowered its forecast for this year’s grain production due to dry weather in northern Europe and Spain. Barley was deemed most adversely impacted. FranceAgriMer said the French winter barley crop would be the largest since 2019. French corn sowing is nearing the finish as conditions for the crop ease. (Reuters; AgriCensus)
Iran: State agency SLAL tendered for corn. (AgriCensus)
Russia: The export tax on corn was lowered for June 14 – 20. (AgriCensus)
South Korea: Feed companies purchased a total of 198 KMT of corn for October/November delivery with NOFI taking 138 KMT of the haul. (AgriCensus)
Ukraine: Corn sowing will be close to the previous year’s level. (AgriCensus)