Market Perspectives – May 29, 2015

Country News

France: The port of Rouen shipped 222,556 MT of grain for the week ending May 27, which is a five-week high reports Bloomberg News. Among these shipments was 128,005 MT of barley bound for China.

South Africa: Bloomberg News reports that the South African Crop Estimates Committee has raised its corn production forecast by 0.8 percent following weeks of reduced forecasts. Farmers may bring in 9.8 MMT of corn, which will be the smallest harvest since 2007. Drought conditions in the Free State and North West provinces (where 64 percent of the 2014 harvest was grown) are the primary culprits in the small corn totals this year.

Ukraine: UkrAgroConsult has predicted that the total grain harvest for 2015/16 could total 54.9 MMT, according to Bloomberg News. This is up from an earlier prediction of 52.3 MMT due to good weather in April.