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USGC sees bumper corn crop in China

The U.S. Grains Council estimates China will have a bumper corn crop this year at 6.6 Billion bushels. The USGC’s annual China corn harvest tour, which wrapped up last week, is the basis for the estimates. The number is 3.5 Million bushels higher than last year’s corn harvest in China.

Grains Council chairman, Dr. Wendell Shauman, says he’s happy to see “strong harvests” anywhere. With the high demand for corn globally, Shauman says strong harvests will help moderate prices and keep “international growth markets on track.”

Nebraska Corn Board director Don Hutchens, who was on the tour says government and private analysts agree with the USGC that China’s corn crop is a good one but “will be insufficient to meet anticipated domestic demand” and China has drawn down its stocks to about 25 percent. He says China will still need to import to satisfy domestic demand and build grain stocks back up.