China is one of the world’s top importers of corn and soybeans and the severe drought in the Yangtze river valley is raising the question of whether or not China will need to import even more of those commodities than usual this year.
Jim McCormick, commodity broker and co-founder of AgMarket.net says that the lack of rain could cause Chinese import numbers to be higher than expected.
At this point it does appear that China will need to import more corn, the question now becomes where will that corn be imported from?
With crop tours currently taking place in the United States we are starting to get a more accurate count of expected yields.
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