China shifts to new crop buys
After previously buying huge amounts of the 2020 U.S. corn crop, China purchased a total of 3.74 million metric tons (147 million bushels) of new crop U.S. corn last week, Successful Farming reported.
With last week’s activity, Chinese importers have purchased 5.1 million metric tons of U.S. corn for delivery after the Sept. 1 start of the 2021/22 marketing year. Private exporters also reported the cancellation of 280,000 metric tons of corn sold for delivery this marketing year.
USDA data show 11.736 million metric tons of...
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