Brazil Seeks China Corn Imports of 10 Million Tons Amid Glut
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Brazil, the biggest corn exporter after the U.S. in the past season, is pushing to win a share of China’s imports of the grain for the first time as the outlook for surging U.S. output threatens to curb the South American nation’s shipments.
The country has a 10 million-metric-ton corn surplus it hopes to ship to China, Brazilian Agriculture Minister Antonio Andrade said at a media conference in Beijing today. Failure to direct the surplus to China may cause Brazilian exports to drop to 18 million tons in 2014 from 21 million this year, Silvio Porto, director of Brazil’s Conab crop-forecasting agency said in Brasilia today.