Country News
Brazil: Some private estimates of the safrinha corn crop have dipped below 70 MMT due to the drought. (AgriCensus)
China: Food security concerns are prompting the government to look more openly at the planting of GMO crops. Less than 1 MMT of corn import purchases have been cancelled but the government has increased its scrutiny of corn imports with some in the trade thinking it is a negotiating ploy. It has particularly targeted feed blending facilities set up in free trade zones. These zones are exempt from tariffs of up to 65 percent applied to corn imports above the import quota. One feed producer was shut down for blending too little protein. The government plans stricter price controls on corn. (Nikkei; Bloomberg)
EU: The official estimate for barley yields this year was raised by 0.6 percent from April while the maize crop was held steady. Some analysts believe that the high cost of corn will limit imports this year. (EU MARS; AgriCensus)
Japan: The use of corn in animal feed dropped to 48.1 percent in March versus 48.5 percent a year earlier. (Reuters)
Romania: Following last year’s drought impacted crop, corn production will be 13 MMT in MY 2021/22, including 5.7 MMT of exports. Despite a lower planted area, barley production will be 1.55 MMT, versus 1.2 MMT last year. Barley exports will rise by 4 percent to 1.3 MMT. (FAS GAIN)
Russia: Some analysts believe that corn exports will slow to a trickle when the floating export tax takes effect on 1 June. (AgriCensus)
South Korea: Nonghyup Feed Inc (NOFI) returned to the market looking to secure up to 137 KMT of optional origin corn and Major Feedmill Group (MFG) privately booked a corn cargo from Cofco. (AgriCensus)
South Africa: The Crop Estimates Committee updated its corn production estimate for 2021/22 to 16.1 MMT. Zimbabwe’s import restriction could hurt South African exporters. (AgriCensus)
Ukraine: Farmers have sown 1.39 million hectares of spring barley, or 96.2 percent of the planned area, and around 5.3 million hectares of corn, equal to 92 percent of the expected area. Corn exports for the marketing year coming to an end have surpassed 20 MMT. (Reuters)