International maize markets have again strengthened this week, in part due to hefty US export sales to China.
In the four days leading up to Friday (26 March), daily US maize flash sales to China amounted to 3.9Mt for 2020/21 delivery.
This brings the total volume of US sales to China so far to around 23.2Mt, according to the latest Agriculture and Horticulture Development Board (AHDB) market report.
If sales are fully realised, it is likely that the USDA figure for Chinese maize imports will need to be adjusted higher than the current 24Mt.
The AHDB reports that China has been looking beyond the US for maize imports, namely Ukraine and Russia.
Brazil’s safrinha planting campaign will have an estimated 25% of the crop sown outside its ideal planting window.
A tighter global supply and demand outlook for maize will likely offer incentive for maize prices to increase.