News Articles - China
China's Changing Corn Market
- Article Information
- Category: News Room
- Published on Friday, 21 October 2011 14:36
- Matching Keywords: China
In September, the Chinese government began releasing corn from government reserves into the market and has reportedly released approximately 3.7 million metric tons (145.7 million bushels) to date. Releases were accomplished through normal sales channels rather than a public bid process. U.S. Grains Council sources suggest this may reflect an attempt to monitor sales volumes more tightly due to concerns regarding actual stock levels.
Chinese market insiders also suggest China may restrict new crop corn procurement by the main buyers in Northeast China this year. Industrial processing companies and possibly small feed mills and livestock farms are likely to be the first sectors affected, followed by large enterprises like COFCO and the China Grains & Logistics Corporation (CGLC). Finally, large grain enterprises could see restrictions on purchase volumes, and bank lending for some large buyers could be tightened.
U.S. Trade Potential in China
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- Category: News Room
- Published on Friday, 07 October 2011 13:58
- Matching Keywords: China
On Tuesday, the Council released estimates of China’s 2011 corn production based on its annual Corn Harvest Survey. The Council projects a bumper crop of 167 million metric tons (6.6 billion bushels).
Tom Dorr, USGC President and CEO, Kevin Rempp, USGC Advisory Team member, and Don Hutchens, Executive Director for Nebraska Corn Board, presented details of the tour in a press conference that morning, including analysis on harvest conditions, crop quality and yield determinants.
The Council believes that China’s projected corn production, while likely a record, is insufficient to fully meet domestic demand, and that China will need to import in order to fill the trade gap and replenish stocks.
USGC Podcast: USGC Projects China Bumper Crop
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- Category: News Room
- Published on Tuesday, 04 October 2011 21:20
- Matching Keywords: China
The U.S. Grains Council has wrapped up its 15th annual China Corn Harvest Tour. Areas representing 71-percent of that country’s corn production were traveled and sampled during the month of September. On Tuesday - CEO Tom Dorr shared the Grains Council’s estimate of China corn production.
USGC Projects China Bumper Crop: Corn Imports Expected to Continue to Meet Surging Demand
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- Category: News Room
- Published on Tuesday, 04 October 2011 16:34
- Matching Keywords: China
The U.S. Grains Council today released estimates of a bumper corn crop in China of 167 million metric tons (6.6 billion bushels), an increase of approximately 9 million tons (354 million bushels) over last year. The estimate was developed by the USGC’s China Corn Harvest Tour, which concluded its annual survey last week. Given the projected corn harvest area of 30.9 million hectares (76.35 million acres), this implies a yield of 5.39 tons per hectare or 85.9 bushels per acre.
Mixed Picture for DDGS Exports
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- Category: News Room
- Published on Friday, 30 September 2011 14:01
- Matching Keywords: China
January-to-June distiller’s dried grains with solubles (DDGS) exports saw a 16 percent increase in sales to Southeast Asia, depite a 11 percent loss in total export sales, reported Adel Yusupov, U.S. Grains Council regional director in Southeast Asia. A major factor is the drop in Chinese purchasing. While China’s July imports were up almost 38 percent from June, they were still well below sales for the same period last year.
Worldwide, DDGS sales for the first seven months of 2011 totaled 4.4 million metric tons, valued at more than $1 billion. The biggest buyers are Mexico, China and Canada, followed by Vietnam and South Korea.
