Ag Trade: U.S. Wheat, Soybean Exports Increase; Chinese Corn Hit Hard by Weather

Published 2020년 9월 18일

Tridge summary

Heavy wind and rainfall in China's northeastern cornbelt have caused a potential drop in the country's corn crop by up to 10 million tonnes, nearly 4%, according to analysts. This is due to the impact of three typhoons that hit the region when the corn crop was maturing. The production losses have led to record high Chinese corn futures and concerns about supply shortages. Meanwhile, demand for corn is increasing as the meat production industry recovers. Additionally, the USDA's Economic Research Service reports that corn feed use for China is projected to increase for the second consecutive year, and wheat exports from the US to China have also risen.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Reuters writers Hallie Gu and Gavin Maguire reported on Wednesday that, “China’s corn crop is expected to fall by up to 10 million tonnes, or nearly 4%, from the latest government estimates after heavy wind and rains toppled crops in major production areas in the northeastern cornbelt, analysts said. “Expected production losses have pushed Chinese corn futures to a record high and stoked worries over supply shortages in the world’s second-largest consumer of the grain after it ran down once-mammoth state stockpiles and boosted imports. The Reuters article explained that, “Three typhoons buffeted China’s main corn belt of the provinces of Heilongjiang, Jilin, Liaoning and the Inner Mongolia region in late August and early September, flattening plants and flooding fields just as the corn crop reached maturity.” “The crop losses come just as demand strengthens from a fast recovering meat production industry, fanning concerns about potential feed-sector shortages,” the Reuters article ...

Source: Agfax