Country News
Argentina: Farm groups have called for a strike in two weeks to pressure the government to help with diesel and fertilizer. The 24-hour strike will halt maize exports on 13 July. A trucker strike has already been blocking exports. (Refinitiv; World Grain)
Brazil: Harvesting of the safrinha corn crop is 20.6 percent complete nationally according to Conab, and IMEA says it is 36 percent completed in Mato Grosso. Drier conditions are speeding up the harvest but farmers are running out of storage space. The consultancy DataGro raised its forecast of the corn crop by 1.75 MMT to a total of 116.1 MMT; this included a slight increase in the safrinha crop to 91.25 MMT. (Reuters; AgriCensus; S&P Global)
EU: Hungarian Agriculture Minister Istvan Nagy says that heat and a lack of rain has ‘substantially damaged’ grain crop prospects this season. Hungary is the third largest producer of corn within the EU. (Reuters)
Mexico: There will be a slight increase in corn imports for 2022/23, rising 200 KMT to 17.7 MMT. Overall domestic consumption will climb 300 KMT to 44.7 MMT. Improved weather will enable a 100 KMT increase in domestic production. (FAS GAIN)
South Africa: The Crops Estimate Committee expects the corn crop to reach 14.67 MMT, a 10 percent decline over the previous season. (AgriCensus)
South Korea: The Major Feedmill Group (MFG) purchased around 136 KMT of corn in two separate consignments of 68 KMT each from Olam at $349.99/MT C&F, plus a $1.75/MT surcharge for multiple port discharge. (Refinitiv)
Taiwan: MFIG purchased 55 KMT of corn from South Africa at 243.79 cents/bushel CNF over Chicago December futures. Argentina offered a slightly lower price but was not favored in the bidding. (AgriCensus)
Ukraine: Corn exports have increased with 325,708 MT exported during the week ending 23 June. (AgriCensus)
Zimbabwe: The 2022/23 corn crop will be 43 percent smaller, the largest decline in three decades, due to high input costs, poor crop weather and macro-economic conditions. The import ban has been lifted as the country will need to import 400 KMT of corn. (FAS GAIN)