US Corn ‘Only Game in Town’
Brazil has effectively run out of the grain until next harvest
US corn is not only the cheapest in the world, but also the only supply that’s amply available in the global market.
According to a report at Yahoo Finance, with Brazil effectively running out of the grain until the next harvest and prices in Argentina soaring, the US is regaining some market share that the world’s biggest corn producer and exporter had lost to other suppliers.
Importers including Mexico and Japan have purchased at least 100,000 metric tons of American yellow grain for four straight business days, the longest streak of such deals in at least three years, U.S. Department of Agriculture data showed Tuesday.