China Purchases More U.S. Corn as Fears of Shortages Increase


By NAFB News Service

via Hoosier Ag Today - Oct 14, 2020


Private exporters report more large sales of U.S. corn to China. On Wednesday, USDA reported two large export sales, one of 420,000 metric tons and another totaling 264,000 metric tons for the new 2020-21 crop year.


China needs to continue increased corn purchases to reach the lofty targets included in the Phase One agreement with the United States.


However, China is still behind pace to do so this year. There are increased fears of corn shortages in China.


Corn futures hit a new record-high...