Country News
Algeria: State agency ONAB tendered for 120 KMT of corn with delivery in November. (AgriCensus)
Brazil: Corn exports had a strong start to October but shipments are at risk due to drought reduced water levels on the northern Amazon basin and higher associated freight rates. Conab’s forecast for the 2023/24 season shows corn production at 119.4 MMT, down 9.47 percent from the record 131.9 MMT produced in 2022/23. Corn planting is reduced due to drought and better returns on soybeans. Summer crop corn planting reached 26.8 percent. (Reuters; AgriCensus)
EU: FranceAgriMer reported that 27 percent of the maize crop had been harvested by 2 October. The agency projected higher barley exports due to greater demand from China. Agrest sees the maize crop coming out larger than expected. (Reuters; AgriCensus)
Russia: Export duties for 11-17 October were raised 1.78 percent for corn to $31.20/MT, but were lowered -1.24 percent for barley to $11.65/MT. (Reuters)
South Korea: FLC purchased 130 KMT of corn via private deals. Delivery will be via two shipments of around 65 KMT each and arriving in January. MFG bought 136 KMT of corn in two consignments with delivery in February. KFA bought 69 KMT of corn for delivery in January. NOFI tendered for 138 KMT of corn with delivery slated for February and purchased 136 KMT from Olam. (Reuters; AgriCensus)