Brazil recently paved the way for imports of U.S. corn following a short corn crop, according to industry sources. Regulators in Brazil last week met and authorized outstanding biotech products needed to open Brazil for U.S. corn exports. The U.S. Grains Council says Brazil has faced a significant shortfall in its current corn crop, particularly in its second winter crop; with an estimated 16 million metric tons less produced this year than the last growing season. This has halved exports and prompted imports from regional producers Argentina and Paraguay. To date, the United States has not been able to fill the demand due to lack of approvals of some biotech products used by U.S. farmers. However, the Grains Council says last week’s move by Brazil opens the doors for U.S. corn. Still, imported corn may be limited to specific use in Brazil, restricting the export potential.
From the National Association of Farm Broadcasting news service.