WASHINGTON – The US Division of Agriculture mentioned that China, in three current transactions, the final one introduced on Could 11, has bought a complete of three,060,000 tons of US corn to be delivered within the 2021 advertising yr. -22, which begins on September 1, a sign. that China is more likely to proceed to import massive volumes of US corn over the following yr.
China’s first buy of US corn for supply in 2021-22 was made on Could 7. The transaction concerned 1,360,000 tons. The second buy was registered on Could 10 at 1,020,000 tons, and the third buy was made on Could 11 at 680,000 tons. All three transactions have been introduced by way of USDA’s 24-hour export reporting service.
At the moment, the USDA reported on Could 10 a cancellation of 280,000 tons in corn purchases for supply in 2020-21 by China. In current weeks, there have been different cancellations of corn gross sales by China for the present yr, which was not sudden given the big quantity of corn that’s nonetheless scheduled for supply earlier than the tip of 2020-21.
The USDA in its most up-to-date export gross sales report mentioned that exports and undelivered gross sales of US corn to China for 2020-21 totaled 23,244,300 tons. Of the entire, 11,380,300 tonnes have already been shipped to China, whereas 11,864,000 tonnes have but to be delivered.