According to the USDA on Tuesday, China bought 1.36 million metric tons of U.S. new crop corn. Bolt Marketing market analyst DuWayne Bosse says it seems like every day now China buys U.S. corn. This week, that’s more than three million tons of corn sold to China. “All for new crop corn. It’s a lot of demand from a country that normally doesn’t buy our corn,” says Bosse. “I think they decided to get their needs on the books.” U.S. producers may be slightly frustrated, because there’s been the new crop sales announcements along with old crop corn cancellations. “The old crop cancellations are probably bigger news, because that’s what we’re shipping now,” says Bosse. “I get a feeling China is getting these new crop sales on the books, just in case. They can always cancel.”
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