November 13, 2012

China grain operators had acquired 4.76 million tonnes of fresh corn from farmers by November 5, a rise of 1.94 million tonnes from the same time of 2011.

Purchase prices of corn rose mildly from the year earlier.

Meanwhile, grain enterprises had bought 266,000 tonnes of new soy, down 89,000 tonnes on year.

The state-backed think-tank China National Grain and Oils Information Centre earlier predicted that the country's corn output would rise 4.26% on year to 201 million tonnes in 2012 while its soy output was likely to slump 12% to 12.8 million tonnes.