Corn import in South Korea will reach 9.8 mln tons in 2016 - 2017, which is 3% less than 2015 – 2016. 5.2 mln tons of corn, to be delivered between October 2016 and April 2017, were bought at the beginning of January.
762,000 tons of wheat were exported from the EU in the week ending on January 31, 2017 which is a very good level for the current season. 14.7 mln tons of wheat have been exported from the EU since the beginning of the season, which is lower than the previous season.
The private broker company INTL FCStone projected a higher corn yield in Brazil of 91.5 mln tons, an increase from 91.1 mln tons. Soybean forecast has been increased too from 102.8 mln tons to 104.08 mln tons.
10% of the planned areas of second harvest corn in Brazilian state of Mato Grosso have been completed compared with 16% and 4.8% a year earlier. Area completion is projected at 33% of the plan next week.
Saudi Arabia announced an auction for the purchase of 1,5 mln tons of barley tobe delivered between March and May. 945,000 tons of barley were purchased at the previous auction at 177 – 192 USD/ton C&F to be delivered between January and March.
The European Commission projected lower corn stocks in the EU of 9.95 mln tons in the current season compared with 15.9 mln tons in the previous forecast. Stocks were 12.18 mln tons at the end of 2015 – 2016.
