China completes its largest purchase of US corn since May 2021, says USDA

Chinese buyers purchased 1.084 million tonnes of corn from the United States, their biggest purchase of the American product since May 2021, informed the U.S. Department of Agriculture on Monday, April 4th.

The trade deal occurred amidst a context of limited shipments from Ukraine, the fourth-largest exporter of corn, due to the war. China has been a major consumer of Ukrainian corn.

The conflict has also affected spring planting, creating further uncertainty regarding the supplier’s reliability.

The USDA said the deal included 676,000 tonnes in the 2021/22 marketing season, which ends August 31st, and 408,000 tonnes in 2022/23.

The USDA projected this week that despite robust global demand, U.S. farmers expect to cut maize plantings this spring, with high input prices such as gasoline and fertilizer restricting earnings.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/china-fecha-maior-compra-de-milho-dos-eua-desde-maio-de-2021-diz-usda/

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