Porto Alegre, November 9, 2020 – The\nconflict of information is the most evident highlight when it comes to the\nChinese market. The Chinese government does not officially disclose updated\nstocks or supply and demand conditions. So, governments in other countries try\nto project the local framework, and private companies make their local\nestimates. In this environment, all kinds of more or less aggressive forecasts\nabout the Chinese market come out. In the case of corn, the purchase situation\nby China in the midst of the pandemic may confuse the effective reasons for\nthis pace of imports. However, they may also be hiding a more worrying\nsituation soon, that is, the pace of demand growth faster than the country’s\nproduction capacity. For this reason, there is an urgent need for a global\nconsensus to be reached on China’s corn data, as stocks are estimated from 75\nto 190 million by private consulting firms. <\/p>\n\n\n\n
\u00a0\u00a0\u00a0 Every ten years, USDA revises its supply and demand picture for Chinese corn. In these corrections, there is always a series of increases, which are not explained in the basic mathematics of supply and demand. In the last correction, stocks jumped from 80 to 200 million tons. The difficulties of consistent information in China result in this type of correction, which has had important impacts on expectations. However, until this year, China had little participation in the international corn market, that is, the country sold little and bought much less. Therefore, the numbers hardly influenced the global market.<\/p>\n\n\n\n
Ag\u00eancia SAFRAS Latam<\/p>\n\n\n\n
Copyright 2020 –\nGrupo CMA<\/p>\n","protected":false},"excerpt":{"rendered":"
Porto Alegre, November 9, 2020 – The conflict of information is the most evident highlight when it comes to the Chinese market. The Chinese government does not officially disclose updated stocks or supply and demand conditions. So, governments in other countries try to project the local framework, and private companies make their local estimates. […]<\/p>\n","protected":false},"author":5,"featured_media":21043,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[],"commodity":[],"class_list":["post-21041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights-en"],"acf":[],"yoast_head":"\n