Country News
Argentina: Higher than average rainfall in the first half of November in Argentina’s agricultural core region, associated with El Niño, is expected to boost grain production, crucial for the country’s economy and foreign currency reserves. The Buenos Aires Grains Exchange reduced its estimate for the area planted to maize by 2.7 percent to 7.1 million hectares. (Reuters)
Brazil: A dry spell in Mato Grosso has delayed soybean planting by up to 30 days, adversely affecting the outlook for the second corn crop, which accounts for about two-thirds of its national production. The 2023/24 first corn planting in Brazil’s center-south region reached 76% of the expected area, surpassing last year’s 70% mark at this time. Corn exports started November at a fast pace. (Refinitiv; Reuters; AgriCensus)
EU: The pace of the French corn harvest slowed as a pattern of wet weather dominates the region. (AgriCensus)
Russia: The export tax on corn was lowered for the period November 15-22, 2023. (AgriCensus)
Ukraine: Freight costs for ships using Ukraine’s alternative export corridor have increased following a missile attack on a cargo vessel near Odesa, resulting in one death and four injuries. Rail cargoes carrying grain to Black Sea ports had been rising but now are being slowed to make track repairs. (Refinitiv)