Country News
Argentina: The Buenos Aires Grain Exchange advised that lower than expected yields may cause it to lower the total corn crop output again. The grain inspectors union is scheduled to go on an indefinite strike, though there is not much to move at this juncture. (Reuters; AgriCensus)
Brazil: AgroConsult is organizing a crop tour to assess the second crop corn that is now mostly planted. Ahead of the tour, the consultancy lowered its estimate of the safrinha corn crop to 97.2 MMT due to weather risks and lower planted area in places like Paraná. Exporter association Anec cut its estimate for March corn exports. (Refinitiv; AgriCensus)
China: Corn buying from the U.S. stepped up due to a late start, affordable prices and stocks readily available. (Refinitiv; AgriCensus)
Egypt: The government released corn stocks to support the poultry sector. (AgriCensus)
EU: COCERAL predicts this year’s maize crop will rebound to 62.3 MMT, recovering from last season’s drought reduced output of 52.5 MMT. (Refinitiv)
Kenya: The government will allow the importation of another 500 KMT of maize. (AgriCensus)
Russia: The government raised the export tax on corn but lowered it for barley. (AgriCensus)
South Africa: The 2023 corn crop is expected to reach 15.8 MMT. (AgriCensus)
South Korea: Feed importers secured 200 KMT of corn for July-August arrival with NOFI booking 183,500 MT of corn for August-September delivery. (AgriCensus)