Reduction of grain production in the United States is beneficial to China's corn export

Lead: Hong Kong (Reuters) - traders claim that drought in the U.S Food belt seems to be good for China Hong Kong (Reuters) - traders claim that drought in the U.S Food belt seems to be good for China, to limit large soybean imports and reduce its high stocks The drought led to the soaring soybean price in the international market, which affected China's soybean procurement China's genetically modified regulations have disrupted soybean trade for a year, but in May Beijing opened the door to imports of genetically modified soybeans In the corn market, high international market prices have enabled China to enter into a large number of sales contracts due to its relatively low prices In fact, the number of contracts is too large to implement In addition, China's soybean production is expected to reach a record high of 17 million tons this year, compared with 15.4 million tons last year The high domestic soybean price at the beginning of the year prompted farmers to increase soybean planting Due to the lack of dry corn production in the past two years, this year's corn harvest is expected to reach 125.5 million tons, which means that China has sufficient food to obtain foreign exchange NcJ
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