Monday, May 21, 2007

Corn Climbs as China May Cut Grain Exports to Feed Bigger Livestock Herds

(Bloomberg) -- Corn rose in Chicago for the first
session in three on speculation that China, the world's second-
largest grower after the U.S., will cut exports as domestic
livestock producers increase their herds.

China's exports may fall 60 percent to 2 million metric
tons in the year through September 2008, while imports may rise
fivefold to 500,000 tons, Wang Xiaohui, a director at China
National Grain and Oils Information Center, said in Beijing.
Lower Chinese sales may lead to greater demand in Asia for
supplies from other producers, including the U.S.


Read more at Bloomberg Commodities News

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