JOC Staff | Oct 05, 2012 1:30PM EDT
The U.S. Grains Council is predicting a strong Chinese corn crop, driven by higher yields and an increase in planted acreage, despite concerns about a reduced harvest because of insect and weather damage in certain areas.
A good Chinese corn crop would alleviate pressure on the tight global market, since the U.S., which is the world’s largest producer and exporter of corn, has experienced a drought and subsequent corn shortage this year.
A good year for China’s harvest will help limit demand destruction and preserve markets for U.S. corn, according to USGC President and CEO Tom Sleight.