The top importer of the crop is turning to Brazil
Major US corn buyer China has been reducing imports from the country due to weak demand and cheaper supplies from Brazil, Bloomberg reported on Friday.
Chinese buyers have reportedly canceled 832,000 tons of US corn orders in the past three weeks, while ramping up purchases from fellow BRICS member Brazil, which is projected to pass the US as the top exporter this year.
According to the report, citing traders, US corn is now less competitive, with supplies from Brazil around $30 a ton cheaper for delivery in the third quarter. Weak domestic demand for corn as animal feed was also listed among the reasons behind the cancelations.
“Demand for corn is really poor,” Wang Xiaoyang, a senior analyst with Sinolink Futures in one of the top grain-growing provinces, Henan, told Bloomberg. “Feed producers are using a lot of wheat to replace corn as prices keep falling.”
The report indicated that wheat prices are around 180 yuan ($26) a ton cheaper than corn in Henan and may decline further.
Meanwhile, traders and analysts pointed out that struggling hog farmers are seeking to cut feed costs, “so replacing corn with wheat is a natural choice.”
Customs data shows that Chinese corn imports hit a record of over 28 million tons in 2021, before falling to about 21 million tons last year.
READ MORE: Chinese food security push poses threat to US – report
China is reportedly seeking to shift away from its heavy reliance on the US and Ukraine for corn by diversifying suppliers, amid geopolitical uncertainty threatening the country’s food security. This month, China also received its first shipload of feed corn from South Africa, another fellow member of BRICS.......More Below
Any moment now I am expecting John Cleese (a veteran of Monty Python) to jump out of the bushes and announce the creation of the Ministry of Silly Wars, with Donald Trump as the deranged leader. For you youngsters out there, Monty Python’s skit, The Ministry of Silly Walks, helped make the members of MP legends. I had to reference Monty Python because the line of bullshit the Trump administration is feeding the American people and the world about the amazing, obliterating US attack on Iranian nuclear sites on Sunday morning, is more ridiculous that all of the silly walks pictured in the following video:
My hopes that Donald Trump would finally act like a responsible adult are dashed. He’s a dangerous buffoon. While the team around him are working frantically to maintain the fiction that Trump has a vision and is calling the shots on the foreign policy front, he is careening around the globe like an out-of-control cue ball on a billiards table. It started a week ago… first, he claimed...
Tuesday marks the third anniversary of the launch of the Fujian, China's first aircraft carrier equipped with electromagnetic catapults. Official media said China is about to enter a three-aircraft-carrier era, with the Fujian expected to enter service by 2025.
After the launch of the Fujian on June 17, 2022, it carried out its first sea trial from May 1 to 8 in 2024. Since then, the Fujian has completed multiple sea trials, accumulating more than 100 days of sea trial, China Central Television (CCTV) News reported on Tuesday.
Wei Dongxu, a Chinese military affairs commentator, said that the aircraft carrier Fujian has been making steady progress in sea trials, and is expected to be commissioned within this year, CCTV News reported.
With a full displacement of more than 80,000 tons, the Fujian is the world's first conventionally powered aircraft carrier to feature electromagnetic catapult technologies, according to CCTV News. The report noted that it will carry a wide variety of carrier-borne...
Chinese President Xi Jinping said Tuesday that China and Central Asian countries have explored and formed the China-Central Asia Spirit, which features mutual respect, mutual trust, mutual benefit, mutual assistance, and the pursuit of common modernization through high-quality development.
Xi made the remarks in his speech at the second China-Central Asia Summit in the Kazakh capital of Astana.
Xi said that the Chinese side has decided to establish three cooperation centers and a trade facilitation platform within the China-Central Asia cooperation mechanism.
When addressing the summit, Xi said these institutions include the China-Central Asia poverty reduction cooperation center, the China-Central Asia education exchange cooperation center, the China-Central Asia desertification control cooperation center, as well as the China-Central Asia trade facilitation cooperation....more below
