Country News
Argentina: Both of the leading candidates in this Sunday’s presidential election in Argentina have said they will eliminate the export tax on corn and wheat and reduce the tax on soybeans. The corn production area in Argentina has fallen each year for the past three years. (Bloomberg)
China: Beijing will purchase roughly half the amount of corn in 2015/16 (40-50 MMT) for government held stocks than it did last year. Domestic purchases by processors will likely increase and reduce the amount of import demand. Government held stocks could reach 200 MMT, roughly 20 percent more than total annual consumption. (Reuters)
Europe: The major feed trade associations in Europe (FEFAC, FEDIOL, COCERAL) issued a study that indicates livestock production would be hit with €2.8 billion ($3.12 billion) in higher costs if member states imposed a ban on GMO feed use.
Kenya: Africa Harvest in conjunction with DuPont Pioneer is working to improve the nutritional quality of sorghum in order to better feed 300 million Africans. (Bloomberg)
Ukraine: The corn crop is tracking to be in line with last year’s production despite lower yields in the better production areas of the north and west. (WSJ)