China Projected Higher Corn Consumption

Chinese agency CNGOIC projected 0.5 mln tons higher corn consumption in China up to 197.6 mln tons.

Corn fodder demand will be growing following government measures which will restrict the import of various cultures in the country. In January, the authorities increased the import tax on DDGA from the USA.

Corn demand was 176 mln tons during the past season, which ended in August 2016.

Demand increase will allow the reduction of corn stocks in the country.