China Corn: Market soft as buyers stay cautious (week ended Aug 2, 2021)
Prices of corn were slow amid slow trade as market participants turned cautious as floods and typhoons disrupted agriculture in the country. Traders who had limited stocks attempted to hold prices stable.
Demand for corn will decrease, particularly in the central region of China, as severe floods have wiped out livestock inventories in several counties and cities of Henan. However, crop production will be affected as well, hence raising concerns over the upcoming harvest in Q4.
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