Corn prices strengthen further amid slow farmer selling
Corn prices in China continue to rise as farmers hold out for higher prices due to bullish market environment and rising input costs.
According to local estimates, farmers are 70% sold on their old crop corn compared to 82% at this point last year.
Prices in rural areas continue to be bid higher, with some traders offering up to 2,740 yuan/ton to farmers.
Traders and end users are also stocking up. With minimal auctions of government reserv...