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    USDA misses the Chinese corn wall and disappoints trader’s expectations.

    11 Feb 2021
    In the latest February USDA report, China’s ascendance to be the world’s largest feed grain buyer was confirmed, with 2020/21 corn imports raised from 17.5mmt to 24mmt along with overall feed grain imports near 50mmt.  However  the USDA (wrongly, in our view) added the imports to stocks and offset global import increases by cutting demand in the EU...

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