China bought 369,000 tonnes of U.S. corn, the Agriculture Department said May 13, confirming the second big sale of U.S. corn to China since late April and the single largest purchase by Beijing since 2001.
The purchases by China, the world’s second-largest corn consumer after the United States, come at a time when Beijing has been selling reserves to tamp down rising prices.
The April 28 purchase was the first by China in nearly four years. There has been speculation that China has bought as many as 15 cargoes of U.S. corn, totaling 825,000 tonnes to 900,000 tonnes.
