Canada enters GM corn dispute
The Canadian government announced on Aug. 25 that it will participate as a third party in the dispute settlement proceedings between the United States and Mexico regarding the use of genetically modified corn in tortillas and dough. In a statement released on the Canadian government’s website, Lawrence MacAuley, minister of agriculture and food, and Mary Ng, minister of export promotion, international trade and economic development, said Canada sides with the United States regarding its stance on the issue.
Brazil’s corn, and soybean estimates were revised higher
Brazil’s crop estimating agency, Conab, on Aug. 10 raised its official corn crop estimate for the current marketing year to a record 129.9 million tonnes, up 2.2 million from its previous estimate. The upward revision is due to safrinha corn production being higher than previously forecast. Conab also raised its 2022-23 corn exports forecast to 50 million tonnes, an increase of 2 million from its prior outlook.
Bunge, Viterra agree to $18 billion merger.
Bunge and Viterra announced on June 13 that they have agreed to a merger that will create one of the world’s largest agribusiness firms, moving it closer in size and scope to leading agribusiness giants Cargill and ADM. As part of the $18 billion deal, which was unanimously approved by both companies’ board of directors, Viterra shareholders will receive about 65.6 million shares of Bunge stock, carrying a value of about $6.2 billion, and approximately $2 billion in cash. Bunge…
Brazil expected to produce record grain volumes
Brazil is set to have another record-breaking grain harvest in 2022-23 with wheat production estimated at 9.6 million tonnes and corn production at 125.5 million tonnes, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).
China corn production on upswing
Corn production in China for 2022-23 is trending higher at 277.2 million tonnes, up 1.7%, or 4.6 million, from last year, and feed mills have resumed mixing more corn amid higher wheat and sorghum prices, according to a Global Agricultural Information Network report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Brazil expecting record 2022-23 corn crop
– Brazil’s corn production in marketing year 2022-23 is forecast to reach a record 126 million tonnes based on the growing demand and price for corn in both the domestic and international market, according to a Global Agricultural Information Network report from the US Department of Agriculture’s Foreign Agricultural Service (FAS).
Brazil on pace for record corn production, exports
Corn exports from Brazil have increased by 221% in the first half of 2022 as importers seek to replace Ukrainian corn that isn’t making it to market due to the ongoing war with Russia.
Argentina grain exports stymied by trucker protest
Loaded grain trucks were not getting to Argentina’s largest port on June 29 as a truck driver protest against high fuel prices brought the country’s agricultural exports to a near standstill, Reuters reported.
Brazil corn production revised upward
Brazil is projected to harvest a larger second corn crop this year as timely rainfall has lessened the severity of drought in the South American country.