Home China’s record corn purchases have traders wondering if bump can last
China’s record corn purchases have traders wondering if bump can last
Prices surge to near eight-year high as demand from Beijing fuels grain market rally
World Economy News
12 Feb 2021 • 4 min read
Record purchases by China have sent corn prices soaring since the end of last year, leaving farmers and analysts pondering how long the surge can be sustained.
Rampant demand from the world’s second-biggest economy has driven a fierce rally in grain prices in recent months. China has always been reliant on overseas markets for soyabeans to feed its animal herds. But the ramping up of imports of corn where the country has previously aimed for self-sufficiency has surprised analysts and traders.