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Brazil Nears Deal to Allow More Corn Sales to Grain-Hungry China

  • Talks between Brazil, China are at advanced stages, people say
  • Move could threaten record U.S. corn exports to China
A corn field in Rosario, Brazil.

A corn field in Rosario, Brazil.

Photographer: Dado Galdieri/Bloomberg
Updated on

Brazil is close to an agreement that would allow the world’s second-largest corn exporter to boost sales of the grain to China, a move that could threaten the U.S.’s dominance, according to people familiar with the matter.

Talks between the governments of Brazil and China are in advanced stages, with many of the technical barriers and issues relating to preventing the spread of pests or crop diseases in the process of being resolved, said the people, who asked not to be identified because the negotiations are ongoing. Traders also recently met members of Brazilian grain exporter group Anec to discuss the issue, the people said.