Domestic: U.S. corn export prices averaged $293 per ton in June, up $46 from May. The expectations of a smaller U.S. crop due to heavy rains and flooding in the Midwest supported high prices. Sorghum prices averaged $253 per ton, in June, up $43 from May, based on higher corn prices. However, prices have dropped steadily after the release of the NASS June 30 Acreage report.

• Argentina barley is raised 400,000 tons to a record 1.2 million based on forecast record production. There is a strong incentive to produce and export barley because there have not been trade restrictions.

• Canada barley is down 350,000 tons to 1.2 million based on a smaller projected crop.

• Russia barley is boosted 300,000 tons to 1.6 million because of demand in North Africa and the Middle East.

• Canada corn is raised 300,000 tons to 2.8 million based on reduced production prospects for corn and other grains.

• EU-27 corn is cut by 500,000 tons to 6.5 million in light of larger feed grain production prospects (including wheat).

• South Korea corn is reduced by 300,000 tons to 8.7 million based on reports of additional purchases of feed-quality wheat from Ukraine.

• India corn is raised significantly to a record 2.6 million tons because of unexpectedly strong shipments to Southeast Asia, despite the fact that the government has just banned exports until October.

• India barley is raised to a record 200,000 tons (from zero) based on shipments to Saudi Arabia.

• Canada corn is raised 300,000 tons to 2.8 million based on continued strong shipments from the United States.

• Mexico corn is cut by 500,000 tons to 9.2 million. Sales and shipments have been running well below earlier expectations but are still on track to exceed last year’s level.

• South Korea corn is boosted by 300,000 tons to a record 9.1 million with strong shipments from the United States in recent months.

• Venezuela corn is raised by 300,000 tons to 800,000, the highest in 7 years, based on recent strong imports.

• Zimbabwe corn is up 200,000 tons to 550,000 tons because of recent purchases from South Africa.

• Mexico sorghum is raised by 100,000 tons to 900,000 tons, but still remains the lowest in 20 years, based on pace of shipments and sales.