Country News
Russia: The grain harvest in Siberia has hit delays due to snow, according to Bloomberg News. Snowfall totaling an inch before melting has made it difficult to get equipment into the fields and could force farmers to scale back the harvest. Siberia produced 17 percent of Russia’s 92.4 MMT grain harvest in 2013/14 and roughly 90 percent of Siberian grain has been harvested. Russia’s barely harvest is estimated to be 19.5-20 MMT and the corn harvest is estimated at 11-12.5 MMT.
South Africa: Yellow corn for December delivery fell by 1.2 percent to $178/MT, reports Bloomberg News. This fall came after five days of rising prices.
Ukraine: UkrAgroConsult has announced that Ukrainian corn exports could fall by 7 percent to 18.5 MMT in 2014/15 due to a reduced harvest and already low global corn prices, according to Reuters. Very hot late summer weather and the loss of corn acreage due to fighting in Eastern Ukraine are chiefly to blame for the reduction. Ukraine has the potential to harvest up to 25.9 MMT of corn this year, which is a decrease from the record 27 MMT it saw in 2013.