Country News
Argentina: Tax policy under the new government is expected to cause farmers to grow more soybeans and less corn. Agritrend analyst Gustavo Lopez says he expects Argentina to see “a monoculture of soybeans.” Soybeans require less investment per acre and therefore are less risky. Foreign exchange restrictions and devaluation of the peso has forced the country’s fifth largest grain brokerage into bankruptcy. Meanwhile, the ministry reports that corn exports during the March to October period reached 36.5 MMT. (Successful Farming; AgriCensus)
Brazil: Scarce rainfall is threatening the ability to plant the second corn crop. Antonio Galvan of the Mato Grosso state grain growers association says, “There is a lot of risk for the corn crop.” The second crop is the largest corn crop grown in Brazil. (Reuters)
China: Imports of corn from Ukraine outpace the level in 2018/19 as another 600 KMT gets loaded. (AgriCensus)
EU: French farmers had harvest 65 percent of their corn crop by the end of October, up from 46 percent a week earlier. FranceAgriMer’s weekly crop report says this compares with 96 percent harvested by this time last year. (Reuters)
South Africa: The corn crop should be better this year, but a hot and dry weather forecast makes it an “uncertain summer.” (AgriCensus)
South Korea: The feed group KOKOPIA purchased Ukrainian corn at $212.65/MT. (AgriCensus)
Ukraine: The corn harvest has reached 81 percent and better than expected yields has renewed talk of a record harvest this year. (AgriCensus)