China's Biggest Corn Buy in Overseas Market

The U.S. Department of Agriculture said on October 14, 2011 that China had purchased the largest amount of corn in overseas market from the US during Fiscal 2011 as the living standard of Chinese middle class has been rising significantly, people are eating more meat and, as a result, more corns are needed for animal feed. China, a net exporter of corn until 2009, has bought 900,000 metric tons of corn from the USA. According to USDA, Chinese consumption of corn totaled 176 million tons during Fiscal 2011.