China buying streak boosts corn market

A streak of U.S. corn sales to China has helped support the market.

Iowa State University Extension economist Chad Hart says the Chinese have become a top customer the past two years.

“And so this recent run of sales to them is making a sizeable dent in terms of moving more bushels out into the international marketplace.”

He tells Brownfield the challenge has been an export decline the past six months.

“So it’s hard to fill in a deep a hole as we’re seeing within our export sales right now.”

Hart suggests the U.S. is capitalizing on a window of opportunity between Brazil’s first and second corn crop.

“As we look further down the line, once that second crop corn starts to come into the international marketplace, we’ll likely see our sales dial back down again.”

The USDA says China has directly bought corn from the U.S. 10 out of the last 12 business days for a running total of more than 3.2 million tons.

Add Comment

Your email address will not be published.


Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!