USDA FAS leaves China corn imports unchanged
The USDA’s Foreign Ag Service is maintaining its outlook for 2020/21 corn imports by China.
The FAS sees imports at 22 million tons, 4.5 million more than the official USDA guess, with that strong demand tied to the re-expansion of China’s domestic swine industry, high domestic prices, and the need to rebuild state reserves. 2019/20 imports were 7.596 million tons, with 3.02 million of that from the U.S. The FAS lowered corn consumption because of high prices, while also raising the ending stocks projection.
China’s 2021 domestic corn crop is projected at 260.67 million tons, down slightly on the year with a decrease in planted area cancelling out improved yields.
Sorghum imports by China are pegged at 6.5 million tons, 900,000 less than the official estimate because of lower priced alternatives like barley, wheat, and old crop rice. 2019/20 sorghum imports were 3.709 million tons.
The USDA’s next set of official supply, demand, and production numbers is out February 9th.