Country News
Argentina: Robust demand has pushed upriver corn prices higher. The Buenos Aires Grain Exchange says that new crop corn yields are outweighing any rainy weather. (AgriCensus)
China: JCI says corn prices remain weak in the south but have rebounded in the north. Feed imports will drop due to ASF. Official media reports that with corn stocks now lower, the government will increase its subsidy to corn growers. CNGOIC has reduced its forecast for soy meal imports in light of the ASF induced pig losses but did not opine on corn demand impacts. (AgriCensus; Reuters)
EU: In a new forecast, Coceral says Europe’s barley crop will be 59.4 MMT, up from 56.1 MMT last year, and the corn crop will be 61 MMT, up 1 MMT from last year. (World Grain)
France: Spring barley sowing got a three-week head start due to a warm February. (AgriCensus)
Korea: Nongyup and FLC teamed to make a private purchase of corn, most likely from Brazil for August delivery. Meanwhile, KFA bought more corn, NOFI bought 69 KMT of corn for $195.55/MT and FLC purchased 68 KMT of corn at $195.99/MT most likely for summer delivery from South America. In total, South Korean buyers have taken up 1.72 MMT of corn in less than a month. (AgriCensus)
South Africa: The area planted to corn in 2018/19 is down 14 percent and total production is expected to be off 23 percent to 10 MMT. It will likely need to import 500 KMT of corn. (FAS/GAIN; William Reed)
Turkey: The state grain buying agency TMO sought 275 KMT of corn for March-May delivery. (AgriCensus)