Country News
Algeria: State agency OAIC bought 30 KMT of feed barley optional origin. (Refinitiv)
Australia: ABARES says El Nino will reduce the winter barley crop by 26 percent year-on-year to 10.5 MMT. That will be 6 percent below the 10-year average. (WorldGrain)
Brazil: CONAB expects a 5 percent drop in corn area for the 2023/24 marketing year bringing production to 119.8 MMT. That contrasts with the 131.8 MMT of corn produced in 2022/23. Planting of the summer corn crop has begun. (Reuters)
China: Corn imports in August were down 29 percent month-on-month. Precipitation in Heilongjiang province will be 20-50 percent above normal, slowing the ripening and harvesting of the corn crop. The agriculture ministry raised estimated corn imports by 500 KMT to a total of 18.5 MMT. (Reuters; Refinitiv)
EU: Drought in Romania and Bulgaria plus flooding in Greece contributed to the expected 3 percent reduction in EU corn yield now expected at 7.26 MT/Ha. That is still well above last year’s drought hit crop but now 5 percent below the 5-year average. (Refinitiv)
Iran: Iranian state-owned animal feed importer SLAL tendered for 180 KMT of corn. (Refinitiv)
South Korea: NOFI bought 135 KMT of corn in a tender for up to 138 KMT. Sourcing is expected to be South America or South Africa. NOFI is also looking for January delivered corn. MFG bought 68 KMT of corn in a private transaction and at a premium of $1.85/bushel C&F over the March 2024 corn contract. (Refinitiv)
Taiwan: MFIG purchased 65 KMT of Brazilin corn for November-December shipment. (AgriCensus)
Ukraine: APK-Inform consultancy sees the 2023 corn crop total at 25.6 MMT and barley at 5.7 MMT. (Refinitiv)