Source: Jim Minter, FARM PROGRESS, 2/2/21


Corn and soybean prices have risen sharply since mid-August 2020. Smaller-than-expected 2020 U.S. harvests of both corn and soybeans are a key reason for the price rally. But just as important is the rise in exports of both crops to overseas destinations — primarily China. The increase in China’s demand for feedstuffs is tied to the resurgence in the Chinese pork sector as the country attempts to rebuild its hog herd and boost the supply of pork to Chinese consumers. The magnitude of the Chinese hog sector is hard to grasp initially.

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