China Is Already Scooping Up U.S. Corn From the Next Harvest
- Chinese buyers purchased U.S. corn for fourth-quarter shipment
- Grain demand is surging as China rebuilds its hog herd
Photographer: Daniel Acker/Bloomberg
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China has already started buying U.S. corn from the harvest that farmers will start gathering in the fall, in the latest sign of tight global supplies.
The Asian nation, the world’s largest commodity importer, bought American corn for shipment in the fourth quarter, according to people familiar with the matter who asked not to be identified because the deals are private. Crops for the fall harvest are currently just being planted and traders estimate sales to China were at least 1 million metric tons.