Country News
Australia: Increasing demand for feed by livestock coupled with rising food demand will cause the share of grain exported to decline from 60 percent to 53 percent over the next decade. Domestic grain production is only expanding at 0.4 percent per year whereas domestic demand is rising 2.3 percent. (Rabobank)
Brazil: The export pace in the first two weeks of October hit 2.8 MMT, just below the 3.1 MMT exported for the whole month of October in 2018. The country is likely to hit the 38 MMT in corn exports projected by Conab, though some traders have doubts. (S&P Global Platts; AgriCensus)
China: Last week’s corn auction set a new 2019 low with just 3 percent purchased of the 3.5 MMT being offered. (AgriCensus)
Czech Republic: The corn production estimate was raised 2.1 percent due to higher than expected yields. (AgriCensus)
EU: Strategie Grains lowered its estimate for the 2019/20 corn harvest to 63.6 MMT, down 200 KMT from a month ago. (Reuters)
South Korea: KOCOPIA purchased approximately 60 KMT of corn at $210.47/MT. (AgriCensus)
Ukraine: The consultancy APK-Inform raised its estimate of the 2019 corn harvest to 33.17 MMT, up 1.8 percent. Grain exports were 728 KMT during October 5 – 11, down from 1.46 MMT a week earlier. (Reuters)