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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

To stimulate use and discourage build-up of the crop, some Chinese provinces offered subsidies to big processors who bought between November and April and process it by end June.


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,...

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