Country News
Brazil: Conab reports that the safrinha corn crop is in good condition. (AgriCensus)
EU: FranceAgriMer says the area sown to corn in France will be 1.3 million hectares, down 7.6 percent from 2022 and the smallest crop in 30 years. More than 5,000 farms have been damaged by floods in Italy including corn fields in what is called “Fruit Valley.” (Reuters; AgriCensus)
India: A late arrival of the monsoon on already heat scorched fields may adversely impact the production of maize. (Bloomberg)
South Korea: In a tender, Major Feedmill Group purchased 133 KMT of corn from South America with the first consignment of 67 KMT priced at $264.27/MT C&F plus $1.50 surcharge for additional port unloading. The Korea Feed Association’s Busan section bought 68 KMT of corn at $258.75/MT C&F plus a $1.25 multi-port surcharge. NOFI is re-tendering after skipping on any purchases in an initial tender. (Refinitiv; AgriCensus)
Ukraine: A Black Sea grain corridor agreement was extended for 60-days, enabling grain exports to continue. However, the export pace has slowed due to more limited work by Russian inspectors. The Ukrainian Grain Association expects corn exports in the upcoming campaign to fall by 30 percent. (Reuters)