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SC Iowa | Here is a pretty good article on the Mexican corn industry.......in rough terms, Mexico is about a 1.200 byn bushel market, and they have had crop production issues last couple of years......right now they produce about 2/3 of their annual consumption and import the rest from the US....we have 99.9% of their corn biz.....
This last year's crop estimate has been shrinking in past 2-3 months......the March estimate was 20.5 MMT and the April estimate was 19.0 MMT.....that is a reduction of 59 million bushels, pretty sizable on a percentage basis....and it appears they have not made great strides in accumulating moisture for the 2012 corn crop, either.
I get the sense the market expects the demand for corn in Mexico to increase over time, with the majority of that demand being filled by US corn.
http://www.martellcropprojections.com/SampleCropReports/Mexico-Stro...
Ray J | |
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Bartlett Grain coming to WC IL
