Tight corn supply in the U.S. and good export in China

Introduction: on Friday, according to traders and analysts, Asian grain consumers may have to pay a heavy price for the crop failure in the United States, but now they have an excellent opportunity to purchase from neighboring countries, and China can provide sufficient corn Hot weather in the Midwest lowered crop production forecasts, corn and wheat prices rose to their highest levels in more than four years, and the difference between us grain prices and those of non-traditional suppliers widened The low price of Maize in Dyk also reflects another pressure on corn processing in China's domestic market, as China's corn production is expected to reach 130 million tons this year, up from 114 million tons last year According to another trader, almost everyone is talking about a good harvest and a falling price That's why we can't sell them At present, China's export companies, JGG and COFCO, are reluctant to sign new export contracts, because they have determined to export 8 million tons of corn, or more, for delivery this year According to traders, Eastern Europe may also further reduce the price of feed wheat as harvesting progresses faster Ukrainian wheat is currently the lowest price, with FOB prices ranging from US $74 to US $75 per ton, which means less than US $100 per ton shipped to South Korea According to traders, if the CBOT price rises further or remains at the current level, the more likely Asian consumers are to turn to China Even the most fastidious Japan has resumed negotiations with Chinese export companies on corn procurement A trader said that if CBOT corn prices remain high, it will solve a global corn inventory problem, especially the huge domestic corn inventory in China will be digested.