China Feed Imports Jump in July. Feed Import Margins Large Despite HUGE Auctions of State-Owned Corn
Bottom Line: China’s Oct-Jul cumulative feed imports are 19.92 MMT vs last year’s 24.86 MMT. That’s down 20% from last year and the lowest in four years. Based on USDA’s August WASDE, total annual feed imports are projected to be 22.32 MMT, down 23% from last year. Surprisingly, the financial incentive to import corn and other…