China corn users prepared to pay up for supply

China’s industrial corn users have snapped up the grain to feed a fast-recovering hog sector since 2019, propelling local corn prices 50% higher during 2020 and triggering record crop imports, including China’s largest ever US corn deal just last week

SINGAPORE: Stocks of corn held by Chinese feed makers and other commercial grain users have jumped to multi-year highs in some areas, indicating that heavy corn users remain concerned about crop shortages even in the wake of the recent harvest.

China’s industrial corn users have snapped up the grain to feed a fast-recovering hog sector since 2019, propelling local corn prices 50% higher during 2020 and triggering record crop imports, including China’s largest ever US corn deal just last week.