China: Grain and Feed Update
Link to report:
China’s 2020/21 feed and residual use for all coarse grains and feed-quality wheat are forecast to increase about 5 percent compared to the previous marketing year due to a projected recovery of swine production and strong expansion in the poultry and ruminant sectors. Corn production in 2020/21 is forecast down 4 percent from 2019/20 due to the impact of Fall Armyworm and reduced planted area. A regional corn shortage in the Northeast, increased feed demand, and insufficient corn imports have pushed up corn prices. In response, the government started liquidating the temporary corn reserve in May. China may rely on corn imports and stockpiled rice and wheat to meet feed demand in the coming marketing year. Wheat production in 2020/21 is forecast down by 1 million tons compared to the previous report due to adverse weather before harvest, while consumption is adjusted higher by 2 million tons based on higher feed-quality wheat consumption.
