June 2, 2005
Chinese feed millers learn about grain trading at US Grain Council events
About 150 Chinese feed millers, industrial corn processors and grain traders recently participated in two US Grain Council trading education seminars. They focused on the world coarse grains market, China's corn market, corn futures in China and the use of corn futures by Chinese feed mills.
One seminar was held in the Shandong Province, which is one of the largest corn-producing regions in China. Prices in this province have risen due to the rapid expansion of locally-produced feed, livestock and corn processing while corn production has largely remained stable.
The transition of Shandong province from net supplier to net consumer of corn is changing the market and putting more pressure on the corn supply. The feed, poultry, swine, dairy and beef industries in this province are among the most developed in China.