Asian feed manufacturers are switching to wheat in animal rations as multi-year high corn prices constrict demand for the yellow grain widely used to fatten hogs and chickens, reports Reuters.
Some of the world’s top corn buyers such as China, South Korea and Vietnam are buying more wheat from Australia and the Black Sea region in the months ahead as the landed cost of corn has climbed to a rare premium to wheat, two Singapore-based grains traders told Reuters.
Combined, those three countries are forecast to buy 26.4% of global corn imports this year, according to the USDA.
