USGC: China is likely to import more U.S. corn this year

04/5/2011 | Wall Street Journal, The

Concerns about tightening corn supplies will likely prompt China to import as much as 3 million metric tons of U.S. corn in the 2010-11 marketing year, on top of the 313,700 tons already purchased, according to the U.S. Grains Council. China's corn reserves are reportedly 10 million to 12 million metric tons less than believed, said USGC President Thomas Dorr. "After reviewing the figures with a number of sources, I believe it is possible that China will purchase another 2 [million] to 3 million tons," said Dorr.

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