June 27, 2011
Corn imports from US arrive in China
The first US corn shipments of the year to China have arrived at Zhejiang and Shekou, with two more shipments expected at Guangxi and Shenzhen next week.
The US Grains Council said Friday (Jun 24) that the shipments have begun unloading without any problems, and they anticipate another eight to 10 shipments intended for the national reserve to arrive over the next few months.
China purchased one million tonnes of US corn in March to replenish dwindling state reserves, fuelling speculation that the Asian country, which turned net corn importer for the first time in 15 years last year, may be scouting the market for more bargains.