China to augment state corn volume at weekly sales

China will offer one million tonnes of corn from state temporary reserves in the northeast at weekly auctions, up from 800,000 tonnes last week, which was sold out at higher prices.

Higher domestic prices amid expectation of thin supplies in coming months have prompted Chinese feedmills to book about 600,000 tonnes of corn from the US.

The State Grain Administration has said the government has enough supplies to meet demand as feedmills and corn processors were snapping up supplies and pushing up prices to record highs in the northeast, the country's largest corn area.