Argentina Reopens Corn Export Registrations: With the reopening of corn export sales after a long hiatus, 2.1 million tons were registered in the first two days. Assuming no further restrictions on sales and shipments, logistical constraints pose no threat to USDA’s forecast of 14.5 million tons, despite competition for port facilities from wheat and soybeans.

Domestic: U.S corn export prices averaged $220 per ton in January, up over $19 from December. Strong demand and tight exportable supplies of foreign feed grains have kept prices firm. Sorghum prices averaged $231 per ton, up $26, due to continued strong demand from the EU-27.

• Argentina corn is cut by 500,000 tons to 14.5 million because of reduced production prospects. With corn export registrations reopened (see item above) and significant early buying interest, the effect from a smaller crop is muted.

• South Africa corn is raised by 700,000 tons to 1.5 million based on a higher crop forecast. Although the country has not exported much the last 2 years, the exportable surplus should find good markets regionally and perhaps in Japan and Korea.

• Kazakhstan barley is boosted by 200,000 tons to 1.2 million, the highest in 15 years, because of a larger crop and limited competition.

• United States sorghum is cut by 200,000 to 7.0 million on lower demand from Mexico but is partly offset by higher expected sales to the EU-27.

• Canada exports and United States imports of oats are both boosted by 200,000 tons (to 2.1 million and 2.0 million tons, respectively) to record levels based on the pace of trade.