USDA experts predict a decrease in China's corn imports in my 2021/22

Last year, corn prices rose amid unusually high rates and volumes of grain imports by China. Therefore, in the current season, analysts are trying to estimate the volume of purchases.

​​​​​​​​​​According to USDA experts, China will import 26 million tons of corn in my 2021/22, which will correspond to the level of the previous season, although it will increase its own grain production from 260.7 to 273 million tons compared to last year.

At the same time, representatives of the FAS USDA in China believe that in 2021/22 MG, corn imports will decrease to 20 million tons due to increased production and the use of cheaper feed. The forecast for corn production was lowered by 1 million tons to 272 million tons due to crop losses caused by the July natural disaster on the North China Plain, which partially compensated for high yields in the north-east of the country.

China became the world's largest importer of corn in my 2020/21, ahead of Mexico, which imported 16.5 million tons. corn imports increased 4 times compared to my 2019/20, and 10 times since my 2016/17.

The increase in corn exports from the United States and Ukraine to China last season led to an increase in grain prices from.160-180/ton FOB to. 270-300/ton FOB, and this season prices remain at a high level.

On Tuesday, the USDA will release the October balance of corn supply and demand, and a decline in import estimates for China could lead to a sharp jump in quotations.