NEWS
Mon Jun 9, 2014 10:53 AM CDT

CHICAGO (Dow Jones) -- Corn futures fell to the lowest price in more than three months Monday on reports that China has stopped issuing permits to import dried distiller grains.

China has stopped issuing permits to import DDGs, the meal that is left over after corn is processed into ethanol, according to media reports. Exports of DDGs jumped to more than 8 million metric tons last year, with China accounting for 34% of the export market, according to the U.S. Grains Council.

"The market is still looking at a big (corn) crop in the U.S. and wondering how much longer ...

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