The United States Grains Council announced that China may not need to import corn from the U.S. this year.
The group explained that China has no need to “rush into the market,” as they had a successful harvest themselves. Prices have risen to nearly $6.00 a bushel, as well. Still, China may watch to see if the prices fall below $6.00.
As of now, however, corn for the December delivery jumped by 2.1%, to trade at $6.105 with Beijing.