Country News
Argentina: Sales of corn seed have declined sharply this year because of a poor profitability outlook. It is expected that Argentina’s farmers will plant 23 percent less corn in the upcoming crop year, and most of that land likely will be shifted into soybeans. (World Perspectives, Inc.)
Australia: It rained during the winter despite a forecasted El Nino-driven drought, and the result is a larger barley crop. The Australian Bureau of Agricultural and Resource Economics has increased its barley crop forecast to 8.6 MMT, versus the 8.2 MMT predicted back in June. (Bloomberg)
India: The monsoon is withdrawing early in Himachal Pradesh in northern India. The corn crop was planted two weeks late and now is receiving 35 percent less rain than is optimal.
South Africa: The Free State is South Africa’s largest corn producing province (44 percent of the nation’s supply) and it has been declared a “drought disaster.” The second largest producing area, the North West Province has also been afflicted. The result is that South Africa’s corn crop is projected to be 9.84 MMT versus 14.3 MMT in 2014. (Bloomberg)
Zimbabwe: Repeated problems with drought are forcing farmers to switch from producing corn to growing sorghum. The corn crop this year will be 742 KMT, roughly half its usual size. As a result, Zimbabwe will spend $300 million importing 700 KMT of grain. (Reuters)