A strong start to 2013-14 for Chinese imports of US corn may fizzle out – provided the domestic harvest lives up to early promise, and the country proves willing to delve into its huge inventories. The US Department of Agriculture’s Beijing bureau quoted trade sources as saying that “China has already contracted approximately 1 million tons of US corn for September 2013 delivery” That figure is well above the number of 365,700 tons which the USDA has officially recorded for US corn sold to China so far in advance for the whole of 2013-14.…Full-text article: BlackSeaGrain Apr 2013
- In northeastern Heilongjiang province, government officials have set a ~6.6 million hectare target for corn cultivation or an 11% increase in area under cultivation. This move is coming at the expense of soybean production.
- China’s 2013-2014 corn consumption is estimated at 24 million tons, with stored domestic inventories expected to be 63.3 million tons at the end of 2012-2013