China: Corn Prices Rise Amid Unprecedented Supply and Demand Shocks

  |   Attaché Report (GAIN)

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Current corn prices have recovered from lows in MY2016/17 as mounting pressures from supply shocks weigh on historic shifts in demand. MY2019/20 corn production is forecast to fall more than 9 percent from USDA’s June forecast due to lower area and yield. Feed demand is projected lower as African Swine Fever-related declines in the hog sector are partly offset by rising poultry production. The MY2019/20 corn feed use forecast is lowered 11 percent from USDA’s official forecast to 170 MMT, the lowest feed use estimate since MY2015/16. The MY2018/19 corn feed use estimate is also lowered to 177 MMT, or about 8 percent.

China: Corn Prices Rise Amid Unprecedented Supply and Demand Shocks

 

East Asia and the Pacific, China
Grains, Feeds and Fodders, Corn, Rice, Wheat

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