China: Grain and Feed Update
Corn production in MY2014/15 is forecast at 214 million tons, down 3 million tons from the previous estimate due to drought in key corn producing regions. Corn imports in MY2014/15 are revised down 500,000 tons to 2.5 million tons. As biotechnology-related trade restrictions continue to disrupt trade, feed mills are responding to high corn prices by importing alternative feed ingredients. Wheat production in MY 2014/15 is forecast at a record 126 million tons while imports are expected to drop sharply to 2 million tons. The forecast for MY 2014/15 sorghum imports is unchanged at a record 4.3 million tons given strong demand for feed alternatives in response to expensive domestic corn.
