PIXABAY
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.
