CROPS NEWS
China Corn Reserves Swell
Lin Tan DTN China Correspondent
Wed Aug 13, 2014 01:08 PM CDT

BEIJING (DTN) -- China's state-owned corn reserves have reached burdensome levels, especially when faced with the prospect of another good corn harvest this fall, a Chinese official told DTN.

"Corn production in China is expected to be 230 million metric tons (9.1 billion bushels) this year, an increase of 4 mmt from last year," said Qiangmin Shang, the director of China National Grain and Oil Information Center.

China's government began selling corn from the reserves in late May, which allowed it to take advantage of tightness in the cash markets since farmers have less corn on hand to sell.

The ...

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