Country News
Argentina: Recent rains have been helpful but at an analyst with the Rosario Grains Exchange says that land intended for corn this season will be more likely planted to soybeans. The Buenos Aires Grain Exchange trimmed its corn planting estimate and cut the target for barley output. (Reuters)
Brazil: Corn exports reached 5.9 MMT in the first three weeks and the exporters association Anec raised its estimate for total corn exports in October. The consultancy Safras & Mercado predicts the first corn crop will be 25.2 MMT and the safrinha crop will hit 87.8 MMT. (AgriCensus)
China: Corn imports in September plummeted by 56.6 percent to just 1.53 MMT. (AgriCensus)
EU: The EU Commission reduced its forecast for this year’s maize crop once again, cutting it 1 percent to 54.9 MMT, a 15-year low. That is down 24.6 percent from the 2021/22 crop. Maize imports were raised to 22 MMT, the largest in four years. (Reuters)
Russia: The export tax on barley was raised but the levy on corn continues to drop for October 26 – November 1 sales. (AgriCensus)
South Korea: NOFI purchased 68 KMT of corn at $330/MT for January arrival and issued a tender for 138 KMT of corn with a January/February delivery. (AgriCensus)