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Palouser
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China buys corn at very favorable price

China, the world's second largest consumer of corn, recently booked another three cargoes of U.S. corn, bringing total purchases of new U.S. corn to 2.8 million tonnes so far in the year, an official think-tank said on Wednesday.

 

 

The shipment was bought at about $272 CIF, 400 yuan ($65.20)per tonne cheaper than domestic corn.