Source: Chuck Abbott, SUCCESSFUL FARMING, 5/17/21


After buying huge amounts of the 2020 U.S. corn crop, China bought a total of 3.74 million tonnes (147 million bushels) of American corn last week, all of it for delivery after this year’s crop is mature, reported the USDA. “New crop” corn was 80¢ to $1 a bushel lower in price at the Chicago futures markets than the 2020 crop. USDA data show 11.736 million tonnes of U.S.-grown corn has been shipped to China with an additional 11.174 million tonnes booked for shipment during the current marketing year, which ends August 31.

For more of this story, click here.