Argentina: The Buenos Aires Grain Exchange reports that corn harvesting has reached 28 percent. (AgriCensus)
Brazil: President Jair Bolsonaro pledged to raise truck freight rates to reflect higher diesel prices and avoid another strike by truckers. If actually enforced, Steve Cachia of brokerage Cerealpar says farmers will have to pay an estimated $50-80/MT more but market sources say it will slow the internal movement of corn and soybeans. (AgriCensus)
China: The General Administration of Customs reports that corn imports were 420 KMT in March, a five-fold increase from the same period a year ago. Analysts believe that corn imports could hit a record high in 2019 and there has been an increase in imports of other farm products.
Meanwhile, the fall armyworm has damaged almost 9,000 hectares of corn in southern China. It is a prolific flyer in its moth stage and Wang Zhenying at the Institute of Plant Protection (Chinese Academy of Agricultural Sciences) believes it could find its way into the more important corn producing areas in northern China by June or July. The moth could destroy up to 20 percent of production, but Wang says proper monitoring and control should limit the damage to around 5 percent. (China Business Times; Reuters)
EU: French maize sowing has reached the halfway point as weather conditions start a decline. In Germany, soil conditions are relatively dry to severe. As a result, barley prices are creeping up. (AgriCensus)
India: The poultry industry is requesting 2 MMT of corn imports to address the shortage that has driven feed costs 40 percent higher. The government has thus far only approved 100 KMT of corn imports and there are limits to using wheat in poultry rations. More corn imports may be approved after the end of elections on 19 May, but Brazil says it has received approval from Delhi to ship poultry into the country. (The Hindu; AgriCensus)
South Korea: KOCOPIA is late in lining up corn for July arrival and ended up paying $202.47/MT. (AgriCensus)
Turkey: The Turkish Grain Board (TMO) paid an average $183/MT on a tender for 300 KMT of corn delivered in 12.5 KMT parcels to six different ports (24 positions). (AgriCensus)