Challenges with top two corn markets
A farmer director on the U.S. Grains Council says challenges remain with two of the top markets for U.S. corn.
Jay Fischer from central Missouri says Mexico is getting stricter on its ban of GMO white corn, hoping to pass a food labeling law to stop the use of GM corn in tortillas.
“It’s another way for Mexico’s president to try and throw up a roadblock, but they need our corn. We’re doing everything we can to get those restrictions lifted.”
Fischer say South America is stepping up its corn production and the competition is getting tough for China’s business.
“Over the past 6 months, it’s been cheaper for China to source their corn from Brazil. Unfortunately, that’s limited a lot of trade from the United States. U.S. corn is only about 5 cents higher a bushel compared to Brazil’s corn.”
Fischer says he is optimistic U.S. corn exports will start to pick up as the new crop marketing year begins. He was elected as the corn sector director for the U.S. Grains Council during the annual meeting in July.