CHINA’S CORN PRODUCTION ESTIMATE INCHES UP
China is expected to produce slightly more corn in 2023-24 due to a larger planted area, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Production is estimated at 280 million tonnes, up from 277.2 million tonnes produced in 2022-23. The FAS increased its planted area estimate by 300,000 acres from its June report. Imports for 2023-24 are estimated at 20 million tonnes, 3 million tonnes lower than the official USDA estimate. Access to quota is an issue, the FAS said, with 60% of the 7.2 million tonnes TRQ allocated to state-owned enterprises and 40% to private buyers.
Wheat production for 2023-24 is slightly lower than the current USDA estimate of 136.5 million tonnes. China’s summer wheat production fell 0.9%, the first decline in seven years, due to heavy rain in key growing areas just ahead of harvest. Wheat acreage increased by 0.4% but yields were down 1.3%.
(Link: WorldGrain)
UN, RUSSIAN OFFICIALS DISCUSS GRAIN EXPORTS
Talks aimed at providing Ukraine and Russia “unimpeded access” to global grain and fertilizer markets were held between the United Nations and Russian officials on Oct. 9 in Moscow, Reuters reported. Grynspan and Griffiths’ consultations with Russia “are taking place with this goal in mind.”
The Black Sea Grain Initiative, brokered by the UN and Turkey with Russia and Ukraine, began in July 2022 and had helped bring some 33 million tonnes of Ukrainian grain to world markets before its demise. Russia quit the deal this past July over complaints its own wheat and fertilizer shipments were impeded by Western economic sanctions.
To convince Russia to agree to the Black Sea deal last year, UN officials have said they would help facilitate Russian exports. Guterres sent Russia’s Foreign Minister Sergei Lavrov a letter in August outlining measures that the UN could help to improve Russia’s grain and fertilizer exports in a bid to convince Moscow to return to a deal.
(Link: WorldGrain)
