Country News
Brazil: While the word “Safrinha” means “little crop,” this second crop has been getting larger each year for five straight years, and the planting of this crop in January is expected to be the largest ever. (Bloomberg) Separately, Brazil was a net importer of 5.7 million liters of ethanol in October, down significantly from being a net exporter of 93 million liters in September. The U.S. was the supplying country. (Platts)
China: China National Grain and Oils Information Center reported that U.S. corn prices for January delivery at 432 yuan/ton ($63.50) lower than domestic corn. It estimated 2016-17 corn consumption at 199 MMT, versus 176 MMT in 2015-16. Corn exports for 2016-17 are estimated at 30 KMT, versus 4 KMT in 2015-16. Sorghum imports are estimated at 3.5 MMT, up from the 3 MMT forecast in October but down from the 8.3 MMT imported in 2015-16. Barley imports in the year starting in June are estimated at 4.6 MMT versus the 3 MMT estimate a month ago, and down from the 8 MMT imported in 2015-16. (Bloomberg)
France: AgriMer lowered estimated 2016-17 corn production to 11.8 MMT from the 12.2 MMT forecast a month ago, and the 12.8 MMT predicted a month before that. (Bloomberg)
South Africa: Cool and wet conditions are expected to create favorable crop conditions over the next ten days and the country expects to return to being a net exporter of maize in the coming year. (Reuters)