Country News
Brazil: The largest purchase of Argentine corn in over 15 years occurred this week in Brazil with a reported 500 MMT lined up for shipment through May. Brazil had exported 10 MMT of corn on a trade prompted by the low value of the Real but now the government has dropped the import duty (PIS/Confins) and will sell stocks to cool an overheated market. (Reuters)
Bulgaria/Romania: Higher profit and lower vulnerability to summer drought will encourage farmers to switch about 5 percent of the acreage previously in corn over to sunflowers. (WPI)
China: The government will end a 9-year corn reserve program, likely switching to a form of target prices, and sell 40-50 MMT of surplus corn. (Reuters)
Saudi Arabia: The 2015/16 marketing year will see imports of 8.5 MMT of barley and 3.5 MMT of corn, and the goal is to increase the use of prepared feeds. (USDA/FAS/GAIN)
Ukraine: Demand for spring crops (soybeans, corn and sunflower) is so great that their production area could surpass that of the winter crops (wheat, rye) that have long been dominant. Even barley will see more spring planting than winter sown crop this year. Corn is more expensive to produce but can be more profitable than barley. (Reuters)