Market Perspectives – March 5, 2020

Country News

Brazil: The safrinha corn crop sowing in Mato Grosso is set to finish ahead of the five-year average, prompted by prices that are 20 percent higher than a year ago. However, half of the new crop being planted in the country is outside of the ideal planting dates. (AgriCensus; Soybean & Corn Advisor)

Jordan: In its latest tender, 50 KMT of barley imports cost $0.75/MT more than in the previous purchasing. (AgriCensus)

Peru: The government’s import tax change clears the way for duty-free imports of U.S. corn. Strong demand from the poultry industry is also expected to require 100 KMT of DDGS imports. (AgriCensus; USDA/FAS)

South Korea: MFG and KFA tendered for 200 KMT of corn (AgriCensus)

Tunisia: The state bought 75 KMT of barley and paid $1.85/MT less than in its previous tender. (AgriCensus)

Ukraine: Barley growers worry that U.S. sorghum sales to China could upset their market. Meanwhile, corn exports were up 30 percent last week to 1.1 MMT. (AgriCensus)