China Doesn't Need Corn So Here's Why They May Be Buying
By Tyne Morgan
Ag Web
Corn, wheat and soybeans saw a price pop this week on news China made a big purchase of U.S. corn. USDA confirmed China bought 686,000 MT of corn for delivery to China. Of that total, 371,000 was in purchases of old crop.
Mike North of Vault Ag says while the big buy starts to move the trade conversation in the right direction, it’s not enough to absorb a growing balance sheet