May 26, 2021

China to Cancel Some U.S. Shipments

Total U.S. corn cancellations are estimated to be less than 1M tons

source: Bloomberg | Quint

China is clamping down on some corn imports amid concern that overseas purchases have spiraled out of control, prompting several feed mills to cancel their U.S. cargoes, reports Bloomberg | Quint.

Chinese customs authorities are restricting imports into free trade zones, which are not counted toward an official annual purchase quota, according to people with knowledge of the matter. The total U.S. corn cancellations are estimated to be less than 1 million tons, said two of the people, who asked not to be identified as the matter is private.

The crackdown is targeted at businesses that have set up blending facilities in the free trade zones.

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Magazine

Marketwatch: Jan, 18

US Corn Price Idx: ZCPAUS.CM

open: 5.7667
high: 5.8486
low: 5.7266
close: 5.8288

US Soybean Price Idx: ZSPAUS.CM

open: 13.366
high: 13.376
low: 13.2328
close: 13.2696

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 7.3061
high: 7.3384
low: 7.2334
close: 7.2454

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.0114
high: 7.0566
low: 6.9566
close: 7.0014