Country News
Argentina: The government expanded the corn export limit to 20 MMT and is weighing a return to the “soy dollar” to increase revenues from exports. (AgriCensus)
Brazil: Conab lowered its estimate of the corn crop by 0.4 percent to 126.4 MMT. Corn exports were kept the same at 45 MMT. The National Association of Cereal Exporters (ANEC) says that corn exports reached 32 MMT in the first ten months of the year, which is more than double 2020 sales. There was 6.24 MMT of corn shipped in October alone but the large volume of exports is creating a logistics crunch. (MercoPress; Refinitiv)
EU: FranceAgriMer expects the corn crop this year to be 10.74 MMT, a 3.6 percent decline from last month and the smallest crop since 1990. The yield this year is 16 percent smaller than the five-year average. (Reuters)
South Africa: The corn production area in 2022-23 is expected to remain flat at 2.6 million hectares. That should yield 15.6 MMT of maize. (FAS GAIN)
Taiwan: The MFIG purchasing group bought 65 KMT of animal feed corn in an international tender that closed on Wednesday. (Reuters)
Ukraine: The corn harvest has reached 27 percent as oilseed harvesting slows. (AgriCensus)