A director with the U.S. Grains Council says U.S. corn is highly sought after in China as the country continues to rebuild its hog herd.
Senior director of global programs Cary Sifferath says China has been dominating U.S. new-crop corn purchases in part to meet its Phase One Trade commitments, but also because they just need grain.
“There’s about an $80-100 spread between what I can import U.S. corn into China versus what domestic corn is, so the prices are telling me they need and want this corn.”
He says for the past 13 weeks, China has continued to auction off old grain, at least four or five years old, that’s priced much higher than the 2020 crop from the U.S.
