Country News
Argentina: Corn farmers are holding back on marketing their newly harvested crop on expectations that price increases are ahead and uncertainty over the implications of the coronavirus. Meanwhile, the government has removed some of the logistical impediments to delivery at export hubs. (Refinitiv)
Brazil: Corn exports in the first three weeks of March were 406.3 KMT, or 37 percent less than last year. Domestic corn prices are up 70 percent based on livestock and ethanol demand. Meanwhile, ports are functioning normally. (S&P Global Platts)
China: Heilongjiang province will raise the subsidies it pays to corn farmers in 2020. The government is seeking to expand corn production area and output. The country has been making large corn import purchases – the most in seven years. There have also been consistent imports of sorghum. (Reuters; Bloomberg)
Japan: COVID-19 has had no adverse impact on demand and imports of corn in 2020 will be 16 MMT based on competitive global pricing. The corn component in the feed ration has risen to 48.6 percent, the highest level since 2009/10. (FAS/GAIN)
Saudi Arabia: A 1.2 MMT tender for barley imports makes some think the country has over-bought. (AgriCensus)
South Africa: The Crop Estimates Committee says that good weather conditions will boost corn production by 31 percent, from 11.2 MMT last year to 14.8 MMT in 2020 That is a 2 percent increase over its previous forecast. (Refinitiv)
Ukraine: Spring weather and moisture conditions are considered favorable for the planting of 5.4 million hectares of corn and 1.14 million hectares of barley. The country’s corn exports last week were down by 45 percent. (Refinitiv; AgriCensus)