Country News
Argentina: Argentine farmers have threatened further protests if the government does not address their grievances, according to Reuters. Farmers have already suspended grain sales this week to protest frequently altered export quotas on corn that make it very difficult for them to plan their sales.
Brazil: Corn production could be hurt by dry weather this year, according to Reuters. Corn planting is currently underway but forecasts for April are predicting persistent dry weather.
Indonesia: Corn imports are expected to fall to 2.5 MMT this year, down from the 3.5 MMT Indonesia imported in 2014, reports Reuters. While ample global supplies and corresponding lower prices have led Indonesia to overbuy for January and February with more on the way in March, imports are expected to start falling off in April.
Ukraine: The Ukrainian recession could cause the country’s largest decline in corn since 2005 as increasingly high interest rates make borrowing too expensive for farmers, reports Bloomberg News. Corn production may fall by 19 percent to 23 MMT as farmers are unable to purchase fertilizers, pesticides or high yield seed. The Ukrainian government recently raised interest rates to 30 percent.