U.S. corn exporters to experience more setbacks as China OKs Brazilian corn

04/10/2014 | Reuters

China's approval of Brazil as a corn supplier is the latest obstacle for U.S. corn exporters after China rejected about 1 million metric tons of U.S. corn because of an unapproved genetically altered strain. Brazil is expected to export 20 million metric tons of corn in the 2013-2014 marketing year, and other Chinese suppliers are increasing their exports. "It means U.S. corn prices have to be competitive with the rest of the world," said ANZ agricultural commodity strategist Paul Deane.

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