Chinese grain importers are rumored to have snapped up more than 10 cargoes of US corn from the Pacific Northwest this week as the Black Sea export market remained absent due to the ongoing military tension.
The buyer of US corn cargoes is believed to be Chinese state-owned companies as CFR prices for corn imports into China are not profitable for private companies.
FOB prices for March and April shipments of US corn from the Gulf region are offered at $320-325 USD/ton, and freight rates for US ...