Interesting Fact D'Jour

Chinese corn on the Dalian Exchange closed around 1900 yuan/tonne overnight, that's around USD278/tonne. CBOT corn closed at USD3.60/bushel near as dammit, that's the equivalent of around USD140/tonne.

The Chinese might not like the thought of GM corn, but if it's half the price, and pretty much all that's on offer, then maybe it isn't such a bitter pill to swallow after all.

India was pretty swift to throw their wheat import restrictions out of the window when things started to get tight a couple of years ago where they not?

And please don't give me the "but they've got 50 million tonnes of reserves" line, last season's crop alone was almost certainly overstated by 10-20 MMT.

Meanwhile meat consumption is growing at the fastest rate on the planet. They currently slaughter more than 700 million pigs a year, yet have a relatively under-developed feed industry compared to the West, with many of those pigs still fed swill.

According to this very interesting article, that I linked to earlier in the week, the volume of compound feed fed to pigs in China is currently 40 million tonnes, but this "could rise to about 180 million tonnes" as the feeding of swill gets eliminated under a "safe meat" policy.