Chinese corn imports set new low for first half of year

past five years at this stage of the year, which was 11.1 million tonnes. There were a few reasons for this, including high local production, high stocks, and a stronger flow of imports in recent years. At the same time, there was also a decline in economic growth. Together, these resulted in lower consumer demand in the country and consequently lower prices. China’s Agriculture Outlook Committee (CAOC) has forecast corn production at 296.16 million tonnes for the 2025/26 marketing year. The USDA’s estimation was 295 million tonnes. This is closely in line with last year’s figure, but also around 10 million tonnes, 3%, above the five-year average. “The economy has been suffering due to slower growth, which does not support consumption as well,” a broker said. He added that, for now, the Chinese government was not encouraging imports that could depress domestic values and cut farmers’ margins, which would further affect their planting decisions. “Domestically, China is ...