Death comes to us all. Life's but a walking shadow | Corn bought by Ukraine counts twice. First because they don't have that amount to sell and second that they are taking corn that could have gone to someone else.
From the US grains council site:
" In turn, this will lead to less Ukraine corn available or priced at the levels to which buyers in the North African region have become accustomed, which will create opportunities for U.S. corn in the region.
“In recent years, Ukraine has been the main supplier of corn to the North African region,” said Cary Sifferath, U.S. Grains Council regional director of the Middle East and Africa.
“As Ukrainian corn continues to be exported to China, there will be a growing opportunity for other sources of corn, including the United States, in the North African region,” Sifferath said. “While U.S. corn will continue to receive competition from South American origin corn and other Black Sea producers, the region’s previous experiences with U.S. corn will help guide their decision making process in the coming year.”
As of March 5, the North African region had outstanding sales and accumulated exports of 1.2 million metric tons (47.2 million bushels) of U.S. corn, up from almost nothing just two years before."
It looks like Ukraine is selling corn to China as payment on a previous loan, If they are paying their loan with corn that means they are starting behind the 8-ball.
Given that we can't sell corn to China it also means that China is soaking up corn supplies from around the world that some other importer can't buy. |
Brazil.... sells corn cheap
