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Corn buying spree suggests strong Chinese demand


By Daniela Sirtori-Cortina and Bre Bradham
China has tapped the U.S. for more than a third of next season’s expected corn imports, accelerating its pace of buying from the world’s top supplier to fill its growing grain needs.
The Asian nation bought about 9.5 million metric tons of U.S. corn from the 2021-22 season so far this month, according to U.S. Department of Agriculture figures. The agency expects China to import around 26 million tons from worldwide suppliers for the period that begins in September.
China has been a key source of demand for grains to feed its rapidly expanding hog herd, helping push the price of crops to record highs, and there’s little indication its appetite is abating. The country’s purchases from the U.S., the world’s top corn supplier, is happening as dry conditions threaten crops in Brazil, which ranks second for global shipments of the grain. ....

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