China Turns to U.S. Corn as War Puts Ukraine Supplies at Risk
- U.S. is the main alternative for China to fill supply gap
- Brazil seen having little room to boost sales to China
A worker shucks corn during a harvest at a farm in Lansing, Michigan, U.S.
Photographer: Emily Elconin/BloombergThis article is for subscribers only.
China is ramping up corn purchases from the U.S. as Russia’s invasion of Ukraine snarls grain exports and puts spring plantings in doubt, pushing prices higher in Chicago.
The world’s top importer scooped up 200,000 tons of corn last week for shipment in the season beginning Sept. 1, U.S. Department of Agriculture data showed Thursday, the most since December. While China was only the fourth-largest buyer for the week, the sale was notable since the Asian country had been purchasing supplies from Ukraine. China was also the leading buyer of U.S. soybeans, picking up more than 800,000 tons.