Russia’s agricultural ministry’s idea of introducing a grain export quota in the first half of 2020 has required additional work. The decision was made at a meeting of the working group on non-tariff regulatory measures in foreign trade last week, Interfax reported February 28, citing the press service of the Russian Ministry of Economic Development.

“Based on the results of the meeting, it was decided that this proposal needs further work,” the press service noted.

Grain OnLine reported earlier, that the Ministry of Agriculture of the Russian Federation proposed for the period from January 1 to June 30, 2020 to introduce a quota for grain exports at 20 million tons, explaining this by the need to maintain stable domestic market supply. The quota can include such crops as wheat, rye, barley, oats and corn.

Russian exporters of grain crops are delaying the delivery of their products to China by an average of one and a half to two months due to coronavirus, the head of the Russian Grain Union Arkady Zlochevsky told RIA Novosti.

"Deliveries have stopped mainly due to the coronavirus spread. Delivery times are shifted by an average of one and a half to two months," Zlochevsky said.

On December 31, 2019, Chinese authorities informed the World Health Organization about an outbreak of unknown pneumonia in Wuhan. Experts have found that the causative agent of the disease is a new coronavirus. The number of cases in mainland China exceeded 77.6 thousand people, 2,663 died, over 27 thousand had been deemed cured. According to WHO, the number of infections outside of China, reached 2,069, 23 people died. 

The Head of the Strategic Marketing Department of Rusagrotrans Igor Pavensky reported that Russia at the beginning of the current agricultural year,  from July 1, 2019 to January, 2020, exported about 96 thousand tons of grain crops to China. Last season total exports of grain crops from Russia to China amounted to 169 thousand tons. Soybeans accounted for the the largest grain export share. Soy export to China from Russia totaled 635 thousand tons during 2018/2019, and in the current season, including January, soy exports amounted to 511 thousand tons, Pavensky noted.

In early February, the Russian government decided to close the border with China in the Far East, restrict border crossing with Mongolia, cancel work visas for Chinese citizens, evacuate Russians from Hubei province, suspend regular flights and charters of Russian airlines to China, except for Aeroflot flights to Beijing, Shanghai, Guangzhou and Hong Kong.

Russian Consul General in Harbin, North China, Vladimir Oshchepkov, told RIA Novosti that at many checkpoints, freight traffic with Russia was partly resumed, and the sanitary-epidemiological services conduct checks at the borders. He said that despite the coronavirus, more than 100 trucks and 20-25 trains cross the Russian-Chinese border every day.

The Ministry of Trade and Industry of Jordan at a tender on February 25 has purchased 60 thousand tons of optional origin milling wheat with 12.5% protein content, the agency Grain On-Line reported citing European traders. 

Jordan bought wheat from Ameropa at $ 221.25 / tonne C&F for shipment in the first half of September and they did so cheaper than their last tender on January 28.

Grain OnLine/ February 25 Russian wheat export prices have been falling for 4 weeks, but the decline has slowed in the last few days as grain crops regain export competitiveness, the agn. SovEcon said citing Reuters.

The export price of Russian 12.5% protein wheat decreased by $ 2 to $ 218 / tonne FOB during the week. The export price of Russian barley fell by $ 2 to $ 190 / tonne FOB.

At the beginning of the season on February 20, Russia exported 23.3 million tons of wheat.

The United Arab Emirates are planning to get new grain suppliers in the regions of the Russian Federation.

The head of the Oryol Oblast held talks in Dubai with Maryam Mheiri, the UAE Minister of Food Safety, Kazakhzerno  reported. Business meetings were also held with UAE food importers.

Al Dahra Holding LLC has announced its goal to increase the size of purchase by 5 times to five million tons of crop products per year. Priority will be given to grain crops. Now Al Dahra Holding LLC is eyeing on suppliers. The company is working to open new routes and Oryol Oblast can become a part of the export chain.

According to the authorities, Oryol Oblast is one of the first regions in the Russian Federation to start substantive negotiations on the export of grain crops and other products to the United Arab Emirates. This spring, a high-ranking delegation from the UAE is going to visit the region.

The creation of a free trade zone (FTA) between Russia and Israel could lead to an increase in trade turnover between the countries by $ 700-800 million, the Petersburg Diary reported, citing Oleg Babaev, the Head of the Russian-Israeli Business Council under the Chamber of Commerce and Industry of the Russian Federation.

Babayev said, that in 2019 Russian-Israeli trade turnover exceeded $ 5 billion. Food accounted for a significant share of Russian exports to this country.

Israel, as part of the Middle East region, remains significantly dependent on supply of grain, vegoils and other types of food.

In January, agricultural output in Azerbaijan amounted to 335.3 million manat, up 3.6% from the same period last year, the State Statistics Committee told Interfax-Azerbaijan.

Livestock production in Azerbaijan increased by 3.2% to 320.3 million manat.

Crop production rose by 12.5% to 15 million manat.

The country produced 41.9 thousand tons of meat (+2.9%), 154.8 thousand tons of milk (+1.5%) and 160.3 million of eggs (+11.2 %).

The State Statistics Committee said, that growing of crops in fields, orchards and vineyards is progressing as well as spring preparatory works for planting.

Farming activities on winter crops in fields continue too.

Winter crops area of 1 million 10.6 thousand hectares was planted for the 2020 crop, according to the primary data.

Of these total, the share of wheat area, estimated at 641 thousand hectares, accounted for 63.4%, the share of barley area accounted for 36.5% and totaled 369.3 thousand hectares.  

Rye area accounted for 0.1% and totlaled 0.3 thousand hectares.

In 2019, agricultural production in Azerbaijan increased by 7.2%.

Since the beginning of the 2019/20 season, the EU countries have exported 28.394 million tons of grain crops, 61% higher than the same period last year (up 63% from last week), the agency Grain On-Line said citing the official journal of the European Union.

 All grain imports reached 17.019 million tons, down 14% from the same period last year and down 13% from last week. EU countries exported 18.009 million tons of soft wheat, 70% higher than the same period last year (up 73% from last week). Soft wheat imports amounted to 1.485 million tons, 53% below than 2018/19 (down 53% from last week).

Also, the EU countries exported 4.631 million tons of feed barley to third countries, 52% higher than the same period last year (up 49% from the previous week). Barley imports amounted to 511.932 thousand tons (up 354% from 2018/19 and up 363% from the previous week).

Corn exports from the EU countries totaled 2.879 million tons, 131% higher than the same time last year (up 140% from the previous week). Corn imports amounted to 13.645 million tons, 10% less than the same period last year (down 9% from last week).

Compared with the same period last year, in January 2020 agricultural organizations of the Russian Federation sold 1.73 million tons of wheat (up 5.1%), the agn. Grain On-Line said citing Rosstat.

The leading regions of the Southern Federal District reached the highest rates of January sales.

As of February 01, 2020 agrarians had stocked 9.686 million tons of wheat, 11.3% up from last year and the same to the average for the previous 5 seasons.

The leading regions of the Southern Federal District were out of competition.

Minister of Agriculture Dmitry Patrushev held a working meeting with the Minister of Agricultural, Food and Forest Policies of the Italian Republic, Teresa Bellanova. The parties discussed the main areas of cooperation in agriculture and trade development.

In 2019, the trade exchange in agricultural products and food between the two countries amounted to $ 1.2 billion.

The Head of the Russian AgMinistry expressed interest in further increasing export deliveries to Italy, including grain crops, sunflower oil and dried legumes.

“Agriculture is one of the directly invested sectors of the Italian economy. We are ready to assist Italian companies on the territory of the Russian Federation, to strengthen and keep up a constructive dialogue, which will also contribute to the growth of exports of the Russian products,” said Dmitry Patrushev.

Patrushev also noted the successful implementation of investment projects by Italian companies in Russia.

According to him, the opening of joint ventures confirms that economic cooperation between the two countries is developing.

Moreover, the cooperation between Russia and Italy can develop successfully in other areas of agricultural sector, for example, the exchange of experience and technologies in viticulture, winemaking and organic agriculture, because Italy has a leading position in terms of organics.

At the meeting the parties reached an agreement to discuss promising areas of bilateral cooperation within the framework of the upcoming meeting of the Russian-Italian Joint Working Group on Agriculture.

Dmitry Patrushev invited Teresa Bellanova to visit the Golden Autumn exhibition. 

It will be held in Moscow in October 2020, as well as the St. Petersburg International Economic Forum and the Eastern Economic Forum.

  As of February, 12, 2020, approximately 2% of early grains and pulses are sown across the Republic of Crimea.

“Planted area has reached 1.9 thousand hectares. The projected spring crops area totaled ​​294.2 thousand hectares. Crimean agrarians will plant 172 thousand hectares of industrial crops — a large part of all planted area. The area to grains and leguminous crops will total 97.5 thousand hectares, forage crops area will reach 27.2 thousand hectares, the rest of the area will be under vegetables and potatoes produced in open fields,” said Andrei Ryumshin, Deputy Chairman of Council of Ministers, Crimean Minister of Agriculture.

Agricultural producers of eight districts began to plant early spring grains and leguminous crops.

The projected area of early grains and pulses will amount to 91 thousand hectares.

Ryumshin also noted: “100% germination percentages of winter crops have been obtained on 482.6 thousand hectares. More than 53% of crops are in good and satisfactory condition”.

Egypt’s GASC has bought 360 tonnes of soft and milling wheat with the delivery between 21 and 31 March at a tender on February, 11, the agn. Grain OnLine has reported.

Below are purchase details (in dollars per tonne on a FOB basis):

*Ameropa: 180 thsd tonnes (3 cargoes) of Romanian wheat at $227.90 with a freight rate of $11.6 equating to 239.50 cost & freight;

* Agro AST: 60 thsd tonnes of Russian wheat at $227.80 with a freight rate of $ 11.75 equating to $239.55 cost & freight;

* Solaris: 120 thsd tonnes (2 cargoes) of Russian wheat at $227.50 with a freight rate of $11.75 equating to $239.25 cost & freight.

The average price at tender amounted to $227.73 FOB basis cost and freight, down $3.37 compared to the January tender.

January this year the gross volume of production in agricultural, forestry and fisheries sectors of the Republic of Kazakhstan amounted to 147.9 billion tenge, 2.6% up from the same period last year, the Committee on Statistics of the Ministry of National Economy of Kazakhstan reported on February 11.

CS of Kasakhstan said that growth in livestock and poultry slaughter in live weight by 4.3%, as well as higher cow milk yield (up 3.1%) contributed to the growth of agricultural, forestry and fisheries production in January. 14 of the 17 regions reported the increase in agricultural production, according to CS.

Australia’s barley exports during December, 2019  amounted to 239.766 thousand tons, up 3.1 times from last month, the agn. Grain On-Line said, citing the Grain Central’s webpage.

Of these total, exports of brewing barley amounted to 99.018 thousand tons, up 20.6 times from November.

Exports of feed barley reached 140.748 thousand tons, nearly 2 times larger than November. The leading barley buyers were Thailand (121.223 thousand tons) and China (31.500 thousand tons).

According to the early estimates, Australia's barley exports to China amounted to 223 thousand tons. In February barley exports are expected to be about the same.

The press service of the JSC Russian Export Center (REC) said that the Executive Board decided to terminate the powers of the current CEO Andrei Slepnev and to appoint Veronika Nikishina.

Nikishina has been a Trade Minister and a member of the Board of the Eurasian Economic Commission (EEC) since 2016.

 “According to the decision of the Executive Board, the powers of A. Slepnev expire on February 9, 2020 and V. Nikishina will take office on February 10. A. Slepnev, after all interstate approval procedures, will become EEC Trade Minister,” REC said.

“We need to increase Russian seeds in the 2020 planting season”, the First Deputy Minister of Agriculture Dzhambulat Khatuov said at a conference call on the development of domestic selection and seed production. Heads of regional agribusiness management bodies, representatives of the Ministry of Education and Science of the Russian Federation, FSBI "StateVarietyCommission", industry unions, scientific and business communities took part in the event.

The First Deputy Minister said that it is important to expand the distribution network of domestic seed producers, as well as cultivation technologies, to create a technological complex for agrarians, which should include fertilizers, plant protection systems and equipment.

Also, special attention at the meeting was paid to Russian corn.

The corn gross crop is the third leading crop in the country. 2019 corn crop for grain has amounted to 13.9 million tons, up 22% from 2018, and totaled 11.4 million tons.

The Russian AgMinistry forecasts 2020 area to spring grains and pulses at 29.2 million hectares. Of these, corn for grain area is estimated at 2.8 million hectares, up 7.2% from 2019. According to Jambulat Khatuov, nationally, farmers plant more than 75 thousand tons of corn seeds every year.

In 2019, domestic corn varieties accounted for 45.8%.

This year it is needed to increase domestic corn seeds by 3 or 5% to 70 or 75% by 2025.

In January 2020 wheat transportation by rail for export amounted to 816.821 thousand tons,  including domestic deliveries to southern ports with subsequent export clearance, down 24.5% from December 2019 and 22.7% lower than in January 2019, the agn. Grain On-Line reported.

In January, Central Chernozem Region increased volumes by 5.7% compared to December and became the leading region in export shipments. In The Ural Economic Region the export situation was also good, the increase reached 154%. Even in the northwest areas wheat exports jumped by 41%.

All other export regions were in the red. The reduction of shipments in North Caucasus reached 33.4%, Volga Region — 45%, Central Region — 45%, Western Siberia —52.3%.

In Central Chernozem Region, the share of Kursk Region increased from 50% in December to almost 63%. Voronezh Region accounted for 13%, and Lipetsk Region — 12.8%. Tambov Region — the leading region of previous months — slipped to 4.4%.

In January, Russian wheat was exported by rail to 15 foreign countries compared with 18 countries in December. Amid an overall drop in shipments, Egypt's share rose from 57.6% in December to 68.5% in January. Turkey’s share was 7.3%, Azerbaijan — 7.2%.

To fulfill obligations to such country as Egypt, in January wheat was provided from 25 Russian regions, the same as in December, mostly by Central Chernozem Region and the Central regions (49.6%), also by the North Caucasus (31.8%) and Volga Region (16.5%).

At the beginning of the 2019/20 season, as of February 2, 2020, all export of grain crops from the EU countries totals 26.096 million tons, up 58% from 2018/19 and up 61% from last week. All imports of grain crops have amounted to 16.271 million tons, down 12% from 2018/19 season (down 11% from last week), the agn. "Grain On-Line" has reported citing the EU official journal.

Analysts said the European exports declined due to the coronavirus epidemic.

EU countries exported 16.355 million tons of soft wheat, up 65% from 2018/19 and up 69% from last week. Soft wheat imports amounted to 1.455 million tons, up 52% from 2018/19 (down 51% from last week).

The EU countries exported 4.336 million tons of feed barley to third countries, up 51% from 2018/19 season and up 54% from last week. Barley imports amounted to 507.900 thousand tons, up 365% from 2018/19 and up 366% from last week.

The EU countries exported 2.689 million tons of corn, up 134% from 2018/19 season and up 122% from last week. Corn imports amounted to 13.022 million tons, down 7% from 2018/19 (down 7% from last week).

The President of the Russian Federation said that the agricultural sector "in recent years is on the front line".

Putin noted that last year farmers did their work 'perfectly'.

 “2019 has been a quite successful year, the agrarians worked as 'perfect' as usual,” he said at a meeting with the head of the Ministry of Agriculture Dmitry Patrushev.

“We have always been on the front line of the agricultural industry,” the President added.

Patrushev reported on the 2019 results. “Based on the outcomes of the industry’s work in 2019, we expect an increase in agricultural production at 4.1%”.

“At the State Council meeting, I said that at the end of the year the approximate estimates for grain crops were at the level of 121 million tons. The forecast was realized.”

Also Patrushev noted that this was up by 7.4 million tons from 2018.

The Qatari port operator QTerminals has won the competition for the Olvia port concession and decided to develop it to create a grain hub, TsTS said citing Neville Bissett, a representative of the company at the presentation of concession projects.

He noted that the port has a good geographical position, which makes it possible to create a good product.

They plan to start the concession project this year in late April or May. It is planned to modernize the grain terminal at berth No. 2, update cranes and loading equipment, improve storage facilities, according to the operator’s presentation.

QTerminals also intends to build two new berths with three cranes on each and install a belt loader to create a new grain terminal. It will install silos and loading equipment for railway and freight vehicles. Additionally, QTerminals plans to update buildings, roads, and ulilites in the port. The operator intends to invest $ 124 million in the project until 2024.

The Ministry of Agriculture of the Russian Federation has estimated 2020 grain crop at 125.3 million tons, said Roman Nekrasov, Head of the Crop Research Department, at the Russian Agronomic and Agroengineering Meeting.

"In 2020 we should expect a little more than 125 million tons of grain crops, according to the statistics from the regions and citing the heads of the AgMinistry," Nekrasov reported.

As of January 21, 32.8 million tons of grain crops and its processed products are exported during the agricultural season 2019/20.  The export of grains and pulses has amounted to 28.2 million tons.

The export geography remained the same, the products were supplied to 131 countries.

In the top 10 importers Turkey is still the leading country. Turkey purchased 7.0 million tons of grains and its processed products compared with 3.6 million tons in the same period last year.

The export rates to Turkey were record-breaking, not only due to an increase in the export of high-quality Russian wheat from 3.2 million tons to 5.0 million tons in 2019/20, but also a growth in corn shipments by almost 3.4 times to 502 thousand tons. Turkey was first in the top of grain crops in the 2014/15 season with total export volume of 5.4 million tons.

Meanwhile, Egypt —  the former leading direction — reduced purchases by a quarter to 4.1 million tons.

Bangladesh has moved to third place in the top of the largest Russian importers in 2019/20. Its export volume amounted to 2.1 million tons of Russian products.

All stocks of grains and pulses in Kazakhstan reached 11.773 million tons (including 4.25 million tons produced in agricultural organizations) reported January 1 the Committee on Statistics of the Ministry of National Economy.

Last month all stocks of grains and pulses in the republic were estimated at 13.172 million tons.

At the beginning of the year wheat stocks totaled 8.99 million tons, including 7.14 million tons of food wheat, 689 thousand tons of feed wheat and 1.16 million tons for seeds.

As of January 1, 2020, barley stocks had been estimated at 1.88 million tons. Rye stocks reached 11.83 thousand tons, oats — 179.8 thousand tons, corn — 135.6 thousand tons, rice — 334.5 thousand tons, buckwheat — 33.9 thousand tons and millet — 15.3 thousand tons.

Deputy Chairman of the Government of the Russian Federation Victoria Abramchenko held a working meeting with the leadership of the Russian Ministry of Agriculture, at which she officially introduced the Minister of Agriculture Dmitry Patrushev. She noted the effective work of the department in developing the domestic agricultural complex and export of agricultural products, and also outlined the main tasks for the Ministry in the near future.

 “The agricultural sector continues to develop rapidly and makes a serious contribution to improving the macroeconomic stability of the country. The export of agricultural products is growing, including due to effective state support, which is largely ensured by thoughtful administration by the relevant ministry. Together we have to participate in the implementation of the goals that were announced by the President in the Message. First of all, in that part of it, which concerns the improvement of social protection of people. And of course, to work for structural changes in the national economy, which Vladimir Vladimirovich Putin spoke about,” Victoria Abramchenko emphasized.

The Deputy Prime Minister also noted that under the leadership of Dmitry Patrushev, the state program “Integrated Development of Rural Areas”, comparable in scale with the national project, was developed, which began to operate in 2020. Within its framework, a large volume of tasks has to be solved to significantly improve the living conditions of people in the countryside.

According to Dmitry Patrushev, the Ministry of Agriculture of Russia will ensure the fulfillment of the tasks set by the President of Russia in his Address to the Federal Assembly, as well as in the framework of national projects. According to the head of the Ministry of Agriculture, the priorities of the department are ensuring food security of the country, increasing the volume of agricultural products export, the integrated development of rural areas, supporting small forms of farming and agricultural cooperation, increasing the efficiency of agricultural production, technical and technological modernization of the agricultural sector, the development of agricultural science and education, as well as other areas.

In conclusion, Victoria Abramchenko expressed confidence that by joint efforts all the tasks assigned to the industry will be successfully solved.

January, 26 | Grain Online  A total of 25.424 million tons of soft wheat, up 61% over the same period in the 2018/19 season, were exported from the EU at the beginning of 2019/20. Imports of all grain crops amounted to 15.744 million tons, down 11% from 2018/19 and 11% lower than last week, the agn. Grain On-Line reported citing the official journal of the EU.

EU countries exported 15.938 million tons of soft wheat, 69% up from 2018/19 and 71% up from the previous week. Exports slightly decreased due to transport workers' strike, which caused logistic problems in France.

Soft wheat imports amounted to 1.412 million tons, down 51% from 2018/19 and 52% lower than last week.

The EU countries exported 4.322 million tons of feed barley to third countries, 54% up from 2018/19 and 50% higher last week. Barley imports amounted to 503.848 thousand tons, 366% up from 2018/19 and 363% higher than last week.

The EU countries exported 2.513 million tons of corn, 122% up from 2018/19 and 115% higher than last week. Corn imports amounted to 12.59 million tons, down 7% from 2018/19 and 6% lower last week.

The AgMinistry estimated the share of domestic seeds in crops of grains and pulses at 72.1%, TASS said citing the AgMinistry’s data.

"Russian agrarians plant around 11 million tons of seeds every year. Currently, the share of spring grains and spring pulses produced from seeds of domestic selection accounts for 72.1%," the official representative of the AgMinistry noted.

He added that the share of domestic seeds in grain crops is 90%, corn - 46%, vegetables - 43%, soybeans - 42%, spring rape - 32% and sunflower - 26%.

The AgMinistry also reported the highest amount of sugar beet seeds of foreign selection.

The American wheat market, after a rapid 2-day growth, which brought it to the record high for the last eighteen month, has locked in profits, the agn. Grain On-Line has reported.

The agency named such bullish factors as global wheat supply situation, expected Russia's export quotas, threat of stopping the nearest export in France, and drop in wheat production in Australia. All these could not change the traders’ decision to sell. Speculative motives this time turned out to be stronger.

March US wheat quotes fell:

• SRW soft wheat in Chicago at $ 1.38 to $ 212.28 / ton
• HRW durum wheat in Kansas City at $ 2.76 to $ 180.96 / ton
• HRS durum wheat in Minneapolis at $ 2.48 to $ 204.11 / ton

The 2010 version of the document is no longer valid.

 Vladimir Putin has approved the new draft law on food security in Russia. The law was published on the webpage of the official portal of legal information.

 The decree comes into force from the day it is signed. The govt should approve measures to implement provisions of the food security law within 3 months, according to the document. 

The new version of the law bans GMO imports into Russia.

“The exception to the ban is the import and planting of genetically modified organisms and the cultivation of such plants and animal breeding during tests and scientific research,” the document said.

The updated version of the Draft Law on Food Security of Russia was submitted to the government at the end of December 2018, Dmitry Patrushev, the head of the Ministry of Agriculture of the Russian Federation said.

In March last year, the Security Council reported that it had decided to adjust the law due to sanctions, changes in the country's socioeconomic status and increased openness of the national agricultural and food market.

On January 17, the exposition of the Russian Federation was opened at the 85th international exhibition-fair of food products and agriculture, “Green Week 2020” (International Green Week Berlin). Russian pavilion, organized by the Ministry of Agriculture in conjunction with the Russian Export Center, has become one of the largest at the largest world exhibition this year.

On an area of ​​5 thousand square meters 18 regions of the country from the Kaliningrad region to the Republic of Buryatia and 250 exporting companies represent their best agricultural products and food products. Also, a restaurant area was organized for visitors, where gastronomic events and tastings of traditional and modern Russian cuisine are held, and the Russian Food Market zone, where you can buy products of domestic manufacturers. Guests can get acquainted not only with the achievements of the agricultural sector, but also with the rich culture of Russia - a large concert program with performances by creative groups has been organized.

Deputy Minister of Agriculture Sergey Levin presented the Russian exhibition to the Minister of Food and Agriculture of Germany, Julia Klöckner. According to him, last year our country increased the export of agricultural products and food to Germany. “Our relations in the field of agriculture are developing steadily. I’m sure that Russian exporters are ready to further increase the supply of grain, as well as meat, fish and dairy products to the German market,” said Sergey Levin.

He also expressed gratitude to the Ministry of Food and Agriculture of Germany for supporting the cooperation project “German-Russian Agrarian and Political Dialogue”, which plays an important role in establishing sustainable ties between representatives of parliaments, scientific and educational institutions, regional ministries, industry unions and associations of the two countries.

At the end of the meeting, Sergey Levin invited Ms. Klöckner to visit the Golden Autumn 2020 exhibition, as well as to take part in the St. Petersburg International Economic Forum and the Eastern Economic Forum.

Corn imports and good crop in India caused lower prices in December 2019. After Ukrainian, Myanmarian and Russian corn entered the Indian market, its domestic prices fell by 15%, the agency Grain On-Line said citing AgriBiz.

 Moreover, private importers bought another 450-500 thousand tons of corn for delivery from February to March.

The forecast for corn harvest in India has also been raised up to 29 million tons, by 6.5% from last season. Thus, Indian domestic corn prices in February may fall by another 10%.