Country News
Argentina: The Buenos Aires Grain Exchange forecasts the corn harvest at 47 percent complete. (AgriCensus)
Brazil: IMEA raised its corn crop estimate in Mato Grosso and forecasts the overall 2019/20 corn crop at 32.86 MMT, a 1.8 percent increase from last year. Deral-PR in the southern state of Parana cut its projected 2019/20 safrinha corn crop estimate by 0.9 MMT down to 11.3 MMT. That total would mean a 15 percent reduction from a year ago and an overall (summer and winter crops) of 10 percent from 2018/19. (Argus Media; AgriCensus)
China: A total 3.99 MMT of the 4 MMT of stockpiled corn offered at auction by the government was sold at an average price of 1,795 RMB/MT ($252.12/MT). As a result, prices have come down from their seven-year high. (Refinitiv)
EU: FranceAgriMer kept the winter barley crop’s good/excellent rating at 52 percent but lowered its estimate for the spring crop by 2 percent down to 56 percent good/excellent. Also, 97 percent of the maize crop is now planted with 83 percent rated good/excellent, a 3 percent decline from last week. (Refinitiv)
Mexico: The 2020 corn import forecast was reduced by 2.5 percent due to falling feed demand. (AgriCensus)
Syria: The General Foreign Trade Organization tendered for 50 KMT of corn with a closure date of 24 June. (Refinitiv)
Taiwan: MFIG tendered for 65 KMT of corn for November delivery and paid 124.57 over December futures. (AgriCensus)
Zambia: Maize production this year will be 3.4 MMT, a 70 percent increase over last year’s drought-devastated 2 MMT crop, says Agriculture Minister Michael Katambo. (Bloomberg)