Chinese order for US corn signals long-term impact on global supplies, prices

China has made one of its biggest-ever purchases of corn on overseas markets, buying 900,000 metric tons of American corn and showing that growing Chinese demand will play an ever larger role in global grain prices. The country was a net exporter of corn until 2009 but is now struggling to keep up with growing demand for the grain — which is mainly used in China as animal feed — as incomes increase and people eat more meat. The U.S. Department of Agriculture announced Thursday that China had made the purchase, which comes despite an expected record grain harvest in China this year...more