Market Perspectives – November 3, 2022

Country News

Argentina: The Buenos Aires Grains Exchange says the first rains in nearly five months have boosted the prospects for the 2022/23 corn crop. (Refinitiv)

Brazil: Chinese authorities have updated a list of Brazilian trading firms that will be authorized to deliver corn. More than half of the 2022/23 corn crop has been planted. (Refinitiv)

EU: The French corn harvest is nearly complete. FEFAC forecasts a 3.6 percent drop in EU animal feed production due to the war and disease. (AgriCensus)

Mexico: Deputy Agriculture Minister Victor Suarez says his country will begin negotiating with farmers to deliver non-GMO corn for importation. (Reuters)

South Korea: MFG purchased 134 KMT of corn at $330-$331/MT for arrival in February 2023. KFA bought 65 KMT of corn in a private deal believed to be priced at $332.45/MT plus $1.50/MT for additional port discharges. (Refinitiv; AgriCensus)

Ukraine: The corn harvest is more than a fifth completed. (AgriCensus)