China To Produce Record Corn Crop In 2012/13

16/05/12 -- China's government sponsored think tank CNGOIC say that the country will produce a record 197.5 MMT of corn and a second highest ever 120.3 MMT of wheat in 2012/13.

In both cases the lucky old Chinese will therefore have managed to pull off successive production increases in nine out of the last ten years.

In the case of corn that's a 3% rise on this season and 4.5 MMT more than the USDA projected last week.

OK, we take these numbers with a large pinch of melamine. More land is expected to be given over to corn production this year though, at the expense of soybeans and rapeseed, for which CNGOIC forecast plantings decreasing by 6.5% and 2% respectively.