Country News
Argentina: The Buenos Aires Grain Exchange forecasts corn planting at 44.3 percent complete for the 2019/20 season. Meanwhile, sales of new crop corn had been accelerating but farmer selling slowed and so did sales by 75 percent. (AgriCensus; Hellenic Shipping News)
Brazil: Corn exports neared 5 MMT in November but the trade had to switch to Parana as a source due to farmers holding back supplies. (AgriCensus; S&P Global Platts)
Canada: Feed barley prices are up $CAD 15/MT in just the past month but moving it into export has been difficult due to the CN railroad strike. (FarmLead)
Saudi Arabia: The Saudi General Grains Organization bought 1 MMT of barley and paid $6.50/MT more than in the previous tender. (AgriCensus)
South Africa: Higher corn prices (up 14 percent) and good weather prompted the government’s Crop Estimates Committee to raise the production forecast by 9.5 percent, and that should enable 1 – 2 MMT of exports starting in May 2020. Meanwhile, maize exports for 2018/19 are likely to be 1.125 MMT (versus USDA at 1 MMT) and imports should be 713 KMT (versus USDA at 600 KMT). Yields in 2019/20 are also likely to exceed USDA’s forecast. (Gro Intelligence)
South America: Higher basis levels in FOB markets is stimulating demand out of North America. (AgriCensus)
South Korea: FLC took the country’s November corn buying to 750 KMT. NOFI and KOCOPIA also tendered for corn. One successful bid was for 69 KMT at $213.25/MT. (AgriCensus)
Tunisia: The official grain buying agency ODC tendered for Dec-Jan barley and import prices were higher versus earlier tenders. (AgriCensus)