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Strong corn demand from China continues
The run of U.S. corn export sales to China rolls on.
The USDA says China bought 204,000 tons of U.S. corn, the 11th announced purchase of U.S. corn in the last 12 business days, 10 of those by China. The running total is 3,204,800 tons, all for delivery during the current marketing year, which runs through the end of May.
This improved demand for U.S. corn is due to a supply advantage over competing exporters and could last until this summer, when the harvest of Brazil’s expected record large second crop gets underway.
The USDA’s next set of supply and demand estimates is out April 11th.
Tags: Brazil, China, Commodities, Corn, Crops, Exports, Grains/Oilseeds, Supply and Demand Report, USDA
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