🇨🇳🇺🇸🇧🇷China may cancel more US corn in shift to cheaper Brazil cargoes

Top corn importer #China could cancel more purchases of the grain from the #US because the country can buy more cheaply from Brazil and as some local producers of hog feed replace corn with wheat in their rations.

China has cancelled over 832,000 tons of US corn in the past three weeks. #Brazil is set to pass the US as the top exporter this year.

US corn is now less competitive, with supplies from Brazil about $30 a ton cheaper for delivery in the third quarter. Weak domestic demand for corn as animal feed is also a reason behind the cancellations.