Country News
China: The Ministry of Agriculture has announced that it still does not have a timetable for the commercialization of domestically developed GM crops, according to Reuters. Safety certificates for GM rice and corn were first issued in 2009, but so far the government has refused to authorize any commercial production. This inaction has engendered criticism from China’s scientific community because the delay has not only widened China’s growing food gap, but has also cost billions of yuan in research over the past decade.
European Union: The EU has announced that it expects total grain production to reach 316.1 MMT in 2023, which is up from the 304.3 MMT harvested in 2013. The growing area is expected to remain steady at 57.8 million hectares (142.8 million acres), and will include an increase in soft wheat and corn acreage at the expense of durum wheat and barley. Grain consumption is projected to climb to 297.9 MMT, which is up from the 2013 level of 278.9 MMT. Corn output may total 79.3 MMT, which is up from 2013’s 64.5 MMT.
Japan: The Ministry of Agriculture has announced that it will import 42,740 MT of feed wheat and 29,505 MT of feed barley from a simultaneous buy and sell auction that closed on Wednesday, according to Reuters. The ministry had sought to purchase 120,000 MT of feed wheat and 200,000 MT of barley. It will be seeking these same amounts in another auction to be held on January 22.
South Africa: Yellow corn futures have hit a record high as traders actively tried to cover short positions, according to Bloomberg News. Yellow corn for March delivery rose 2.6 percent to $267/MT, which is the highest it’s been since trading began on the South African Futures Exchange in 1996.