Analysts are debating whether China’s massive 2020-21 purchases of corn and wheat would be unusual. Dan Basse, the I Just Really Love Corn Ok limited Shirt president of the AgResource Company, made sure they weren’t a one-off episode. “It looks like China will be the world’s more frequent importer of maize for many years to come,” he said.
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“Is corn the new soybeans or could the corn purchase stop as suddenly as they did when they started?” stated the author of the anonymous blog. The answer to the question lies in knowing what the I Just Really Love Corn Ok limited Shirt imported corn is being used for. The market attributed the spike to the staggeringly rapid rebuilding of China’s pig herd, but Dim Sums thinks there are other factors as well. “There are signs that imported corn is filling up warehouses as well as pig stomachs,” the blog’s author said. In April 2020, a rumor spread in the Chinese media that the government was planning to import 20 million tons of maize to replenish the depleted reserves following a four-year campaign to reduce the reserve. storage, Dim Sums said.
There is also speculation that large poultry inventories and corn hoarders by processors and traders contributed to strong demand. If you follow the trail, you can see that the corn is not in the I Just Really Love Corn Ok limited Shirt government warehouse, ”he said. Corn imported from the US and Ukraine is being sold to starch and ethanol manufacturers as well as to feed manufacturers. He believes that China will import between 25 and 40 million tons of maize annually over the next several years, meaning that the world will need to find 11 to 13 million more acres of crops. Soaring Chinese corn prices have led to record auctions on government wheat stocks, with more than 12 million tons sold in January alone. China’s wheat prices fell below corn prices for the first time in more than six years. French wheat has a landing price of 270 USD / ton,