Chinese Corn Imports Update – Oct ’21
According to a recent grain and feed update provided by the USDA, 2021/22 marketing year Chinese corn imports are expected to decline from the highs experienced throughout the 2020/2021 marketing year. Moderations in stocks building, coupled with expansion of the Chinese corn production area, are expected to result in the softened import demand throughout the 2021/22 marketing year, especially as global grain prices and shipping costs rise.
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In addition, private corn speculators are under pressure to sell corn stocks as the market has now turned. Over the past year, speculating in corn prices in the Northeast has been a widespread phenomenon, known, in Chinese, as (全民存粮) or “store corn by the entire people”.
The full USDA Chinese grain and feed update report can be found here: https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Grain%20and%20Feed%20Update_Beijing_China%20-%20People%27s%20Republic%20of_09-27-2021