Country News
Argentina: Corn sales have been rising and barley exports are expected to hit 3.5 MMT but the Bolsa Comercio de Rosario says that farmer gross margins will be hurt by higher input costs. (AgriCensus)
Brazil: Planting weather has thus far been excellent and AgRural says corn sowing is 75 percent complete. Conab raised its forecast for 2021/22 corn production 0.344 percent to 116.7 MMT. The corn production area will increase but there are concerns about both the price and availability of fertilizer. IMEA reports that corn prices are down in Mato Grosso, subdued by high imports. ANEC says corn exports hit 2.647 MMT in November. (Reuters, Soybean and Corn Advisor)
EU: Barley exports for 2021/22 reached 2.94 MMT, versus 3.02 MMT a year ago; maize imports were at 4.39 MMT, against 6.07 MMT previously. FranceAgriMer reports that 73 percent of the maize crop has been harvested and it raised its estimate for 2021 production to 14.5 MMT from last month’s 13.9 MMT, making it the largest crop since 2014. It left the barley crop estimate unchanged at 11.4 MMT. The additional 25 percent duty imposed on U.S. corn will disappear from January 1 onward. (Reuters, AgriCensus)
Jordan: Government agency MIT tendered for 120 KMT of feed barley. The agency purchased 60 KMT of Australian barley for April delivery. (Reuters)
Saudi Arabia: Barley imports during the first six months of MY2021/22 (July – Dec. 2021) are estimated at 2.8 MMT, a 30 percent decline compared to the same period last year. The reduction is due to a shortage of vessels that are otherwise servicing China. As a result, C&F barley prices have increased from $260/MT in August to $340/MT at the end of October. Total barley imports for MY2021/22 will be 5.5 MMT, down 21% compared to the USDA official estimate of 7 MMT. (FAS)
South Korea: MFG purchased 137 KMT of corn at $317/MT for February delivery. (AgriCensus)
Tunisia: Government agency ODC bought 75 KMT of barley, optional origin. (Reuters)
Turkey: Government agency TMO is purchasing barley for delivery in December/January. (AgriCensus)