VIETNAM FEED INDUSTRY USING MORE CORN
After a slump in the first half of 2023, Vietnam’s livestock industry is expected to rebound in the months ahead, driven, in part, by lower corn prices that have led to a gradual reduction in animal feed costs, according to a Global Agricultural Information Network (GAIN). The FAS forecasts animal feed demand to increase from 20.6 million tonnes this year to 21.4 million tonnes in 2024. With corn prices standing lower than those of wheat and rice, the import demand for corn is projected to reach approximately 8.8 million tonnes in 2023, the FAS said. Conversely, import demand for feed wheat and feed-grade rice has experienced a decline.
The FAS revised corn consumption in Vietnam in 2022-23 up slightly to 13.9 million tonnes, with imports estimated at 9.8 million tonnes, up 600,000 tonnes from the prior year. It projects 2023-24 corn imports at 10.2 million tonnes. It revised 2022-23 wheat consumption lower to 4.08 million tonnes in 2022-23 and imports down to 4.11 million tonnes. The FAS sees a slight uptick in imports in 2023-24 to 4.33 million tonnes.
(Link: WorldGrain)
USDA CROP PROGRESS REPORT: SOYBEAN HARVEST OVER 60% COMPLETE
As of Oct. 15, 95% of corn has matured, up from 89% the previous week. Corn is now 45% harvested, ahead of the five-year average of 42%. USDA says crop conditions are unchanged from what they have been the prior tow weeks: 18% of corn is in poor/very poor condition, 29% of corn is in fair condition, and 53% is in good/excellent condition.
97% of soybeans are dropping leaves, the soybean harvest is 62% complete, ahead of the five-year average of 52%. USDA rated 18% of soybeans in poor/very poor condition, thirty percent of soybeans are in fair condition, and 52% of the crop as good/excellent, up 1% from the prior week.
USDA says winter wheat is 68% planted as of Oct. 15, up from 57% the week prior and in line with the five-year average. The report says 39% of the crop has emerged, up from 29% a week ago but behind the five-year average of 43%.
(Link: Successful Farming)
