China’s corn imports may be off, according to one ag economist
An ag economist says that USDA’s estimates for Chinese corn imports are off.
The department puts it at 26 million tons. Ben Brown with the University of Missouri says that the corn markets suggest China has imported more than that, and the country’s ending stocks are probably much tighter than 198 million tons.
One reason is China’s announcement to release its first batch of state reserve corn. Brown admits it is hard to get an accurate estimate of China’s corn production because it might be stored in small bins across the country, in hard-to-access areas.
Leaders at the G7 Summit reached an agreement on what to do about China.
They say that collaboration is key to combat China selling exports at low prices.
The World Trade Organization designates China as a “non-market economy,” allowing trade partners to implement anti-dumping duties on unfairly priced exports. The G7 world leaders also asked China to respect human rights and fundamental freedoms.