China: Grain and Feed Update

Corn production in MY2022/23 is revised up slightly based on National Bureau of Statistics data indicating a better harvest in the North China Plain which more than offset smaller yields in the northeast. Feed mills have resumed mixing more corn in feed rations as higher prices for wheat and sorghum reduce demand for corn alternatives. At the same time, Brazilian corn is now available and priced competitively with domestic corn. Sorghum imports are forecast down significantly in MY2022/23 with a smaller U.S. crop and high prices. Rice imports are forecast lower with smaller production in supplying markets and owing to a rice-related export ban in one of those countries.