China Books Biggest U.S. Corn Sale Since September 1
Private exporters reported sale of 350,000 tonnes of corn to China
Chinese buyers booked their biggest deal for U.S. corn since Sept. 1, the U.S. Agriculture Department said on Monday, after focusing their attention on U.S. soybeans since the start of the month, reports AgWEB.
USDA said that private exporters reported the sale of 350,000 tonnes of corn to China for delivery in the 2020/21 marketing year, the biggest sale of corn to China since a deal for 596,000 tonnes on Sept. 1.
The government also said that a corn sale of 140,000 tonnes announced on Aug. 27 that had been designated as headed to unknown destinations was corrected to destined for China.
China's agriculture ministry raised its forecasts for corn imports to 7 million tonnes for both the 2019/20 and 2020/21 crop years, keyed by large arrivals from the United States.