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Storms Impact China's Corn Crop
USAgNet - 09/22/2020

China's corn crop is expected to fall by up to 10 million metric tons, or nearly 4%, from the latest government estimates after heavy wind and rains toppled crops in major production areas in the northeastern corn belt recently.

Reuters reports that expected production losses have pushed Chinese corn futures to a record high and stoked worries over supply shortages in the world’s second-largest consumer of the grain after it ran down once-mammoth state stockpiles and boosted imports.

“We think that corn output in the northeastern region would fall 5 to 10 million tons this [crop] year,” said Zhang Dalong, analyst with COFCO futures, referring to the latest output estimate from the Ministry of Agriculture for the 2019-20 crop year of 260.7 million metric tons. “Impact on output and quality of the grain will be felt over the longer term,” Zhang said.

Three typhoons buffeted China’s main corn belt of the provinces of Heilongjiang, Jilin, Liaoning and the Inner Mongolia region in late August and early September, flattening plants and flooding fields just as the corn crop reached maturity.

“Flattened crops are not equal to no harvest, and you might recover some output if the crops get handled properly later,” said Meng Jinhui, senior analyst with Shengda Futures.

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