China's real corn stocks
Hello boys! Good morning!
I'm speaking already in the afternoon in China. I cam here to do some reportings and this was the first day. What I found out already, and that may be worthy for U.S. farmers, is that the total Chinese corn stocks are estimated between 100 and 150 million metric tons.
As I start my report, I must mention that food security is considered a very sensitive issue for the Chinese government. Therefore, most sources are speaking to me with the condition of anonimity. The first analyst that I talked to to projected a corn output of 220 million metric tons for this season. Northern provinces have had good weather in their crops, where most of the corn is grown and subsidized.
Let me know what you think, guys. I'm in Shanghai currently and will head to the north during the week. I will share what I have learned with you over the week.