How Do You Know When A Chinese Govt Official Is Lying?

His lips move. Shanghai JC Intelligence Co are apparently now saying that last season's Chinese corn crop was only 140 MMT, fully 23 MMT than the government went to great lengths last season to assure us had been harvested. And well under the current USDA figure of 155 MMT too as it happens.

It must have been a pretty big lorry to have 23 MMT fall off the back of it that's all I can say.

The fact that they are suddenly importing US corn like bill-o, and appear to have completely forgotten all about their concerns over a silly little thing like GM issues, would seem to suggest that the government may have made a slight miscalculation.

Meanwhile there are already rumblings that the 2010 crop might turn out to be substantially less that the government and USDA are currently forecasting, with drought delaying plantings and having a negative impact on yields.

There's always the "lets make it rain" option of course. There's probably enough silver in last season's corn crop that they could simply start firing that into the atmosphere to make it rain if it wasn't so bloody expensive.