The USDA’s Foreign Ag Service is maintaining its outlook for 2020/21 corn imports by China.
The FAS sees imports at 22 million tons, 4.5 million more than the official USDA guess, with that strong demand tied to the re-expansion of China’s domestic swine industry, high domestic prices, and the need to rebuild state reserves. 2019/20 imports were 7.596 million tons, with 3.02 million of that from the U.S. The FAS lowered corn consumption because of high prices, while also raising the ending stocks projection.
