Miller Magazine Issue: 134 February 2021

78 MARKET ANALYSIS MILLER / february 2021 After unsuccessful attempts to limit the export of corn and limit the growth of prices for flour in the Argentine domestic market to 9% per year, the Argentine authorities may again increase export duties. Production in India may be 106MMT, accor- ding to local analysts, while WASDE estimates it at 107.6MMT. This will reduce the export potential, but will not affect the market as a whole, since to- day India has a limited number of potential buyers. BARLEY Before a new corn crop appears on the Chinese market, some of the grain will be replaced by im- ported barley, analysts at Strategie Grain say. Uk- raine has already contracted more than 2 MMT of new crop barley for China, before the new year pri- ces for CIF reached $ 295 per ton. Today the price tag in the ports of Ukraine fluctuates from $ 225 to $ 235.The sharply increased rates of purchases of Ukrainian, Canadian, Latin American barley indi- cate that China does not plan to soften its policy regarding Austrian grain in the ne- arest future, and it will look for new sales markets, first of all - Saudi Arabia. VEGOILS MARKET Argentinean processors entered into an agreement with the government, in ex- change for guarantees of no increase in duties. The market is developing in a si- deways trend due to the lack of new infor- mation and the beginning of a long vaca- tion in China. WASDE's expectations didn't come true. Producers of Mato Grosso sold 72% of