China skews world corn supply but shows promise in longer term
Higher domestic use and a smaller harvest should help reduce the country's stocks towards more normal levels
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Chicago
THE corn market's initial excitement over projections for a hefty cut to next year's global supply grew dull as soon as traders realised China's sizeable hand in that trend.
But China's contribution to the corn stocks cut does not mitigate the importance of the reductions, and in fact it might be a positive sign of the reshaping of the world corn balance.
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