China: China Auctions Record Volumes Corn in MY2018-19

From January 2018 to late October 2018, China auctioned more than 100 million tons of corn from its state-owned inventories, or about 43 million tons more than over the same period in 2017, and up more than 75 percent year-on-year. As marketing year (MY) 2018/19 progressed, the turnover rate of auction sales as a share of total volumes on offer at state-administered auctions also rose, indicating widespread market expectations that domestic corn prices would rise. 

China: China Auctions Record Volumes Corn in MY2018-19