China: Grain and Feed Update

FAS China’s marketing year (MY) 2021/22 corn import forecast is 20 million metric tons (MMT) while its estimate for corn imports in MY 2020/21 is raised to 30 MMT. Corn imported during the current marketing year is expected to enter commercial channels throughout the next year. As the feed sector sources cheaper feed grain alternatives and growth in feed demand increases at a slower rate, demand for imported corn is expected to moderate. Production revisions are based on analysis of harvested area and estimated yield trends as there have been few reported large-scale weather or pest-related production disruptions to cereal and coarse grains. This update includes revisions to FAS China forecasts and estimates for corn, sorghum, barley, wheat, and rice.