Farmers in Heilongjiang have now sold over 80% of their crops, which is leading to rising prices and tightness in supplies. Heilongjiang’s grain stockpiling agency notes that due to this tightness and rising prices, farmers are more reluctant to sell their remaining corn.
Some corn processors in the northeast are reducing their operating rates due to the tightness in supply, with prices up around 40 yuan per ton over the past week, and prices at northern ports up around 20 yuan per ton. There ha...