U.S. Corn Shipments Hit 24-Year Highs Despite China Cancellations

By Michael Hirtzer April 24 (Reuters) - U.S. exporters last week shipped the most corn in at least 24 years, government data showed on Thursday, despite another round of canceled purchases by China tied to a banned variety of genetically-modified grain. More than 1.6 million tonnes of corn was loaded for shipment during the week ended April 17 in the United States, the … [Read more...]

Corn Shipments to China Halted

By Karl Plume CHICAGO, Feb 6 (Reuters) - Chinese importers canceled purchases of four cargoes of U.S. corn this week, after one cargo was diverted to Vietnam last week, U.S. government data showed on Thursday, as a dispute over an unapproved genetically modified strain remained unresolved. The U.S. Department of Agriculture confirmed, via its daily reporting system, the … [Read more...]

Commodities: Corn Set for Biggest Drop Since 1960

Dec. 31 (Bloomberg) -- Corn headed for the biggest annual drop since at least 1960 and wheat tumbled the most in five years as grain production climbs to records worldwide and outpaces demand for food, livestock feed and use in biofuels. Corn plunged 39 percent in 2013, the worst performance among 24 commodities on the Standard & Poor’s GSCI gauge, as the U.S. … [Read more...]

China Said to Refuse More Than 500,000 Tons of U.S. Corn

Dec. 18 (Bloomberg) -- China has rejected more than half a million metric tons of genetically modified U.S. corn in November and December, almost three times the amount it previously announced, said three people with knowledge of the issue. At least nine Panamax-sized vessels, each carrying about 60,000 tons of insect-resistant MIR 162 grain, have been refused, said the … [Read more...]

China’s Gonna Need More Corn

China’s corn self-sufficiency could fall to 93% by 2018 and to 90% by 2020, according to an executive in the corn division at state grain trading firm China National Cereals, Oils and Foodstuffs Corporation (“COFCO”). Founded in 1952, COFCO Group is China’s largest food processing, manufacturer and trader. Currently, China strives for 95% … [Read more...]