An American Farm Bureau Federation Economist says China is on pace to import a record amount of corn this year.
Shelby Myers tells Brownfield China has imported seven million metric tons of corn, just 200,000 metric tons shy of its current tariff rate quota. Myers says China might need to adjust its tariff rate quota which is normally reviewed and adjusted at the end of the marketing year.
“But this has also been a unique year for corn demand for them as far as the price of domestic corn for them is rising that haven’t experienced until recently,” she said.
