Agweb
By TYNE MORGAN April 15, 2022
China made another large buy of U.S. corn to start the week, and market analysts say food security concerns are driving the country’s increased appetite for commodities. USDA confirmed a flash sale Monday that totaled 1.020 million metric tons of corn by China. 680,000 tons of the purchase are for old crop, with the remaining 340,000 for delivery in the 2022/2023 marketing year.
The purchase was on the heels of China’s largest corn purchase since May of 2021 last week, a purchase that totaled 1.084 million tons. Brian Grete, editor of Pro Farmer, thinks it’s a trend that will continue.