Country News
Argentina: The principal corn-growing areas are enduring the driest conditions in nearly three decades and may force planting to be delayed until after the traditional mid-September start. (Bloomberg)
Brazil: The National Association of Cereal Exporters (ANEC) lowered its estimate for corn exports in September to 7.618 MMT. The 200 KMT reduction means that a record level will not be achieved. Deral reports that Paraná’s harvest of the second corn crop is 99 percent complete and the planting of Brazil’s 2022/23 corn crop is 22 percent complete with Rio Grande do Sul at 35 percent finished. (Refintiv; AgriCensus)
EU: Strategie Grains reduced its estimate of the EU maize crop to 52.9 MMT, the lowest output since 2007/2008 and a 25 percent reduction from last season. France’s projected 11.6 MMT contribution to the total will be the smallest since 1990. The consultancy says a large volume of imports will be required, likely from Ukraine. The grain trade association Coceral has an even lower estimate of 51.9 MMT of maize production. (Refinitiv; Bloomberg)
Taiwan: The Taiwan Vegetable Oil Manufacturers Association signed a letter of intent to purchase 1.5 MMT of U.S. corn and 250 KMT of U.S. corn products (DDGS) during 2023 and 2024. (News Dakota)