China expects a reduction in corn and wheat imports

According to a USDA GAIN report, China expects a reduction in corn and wheat imports, while barley imports are increased as feed mills shift to substitute more sorghum with barley. Corn and wheat forecast Corn production for MY2021/22 is forecast at 272 MMT, up by 11.3 MMT from last year due to higher planting area leading to high yields. The increased acreage is attributed to a mix of high prices and government policies encouraging or mandating the planting of additional corn acreage. MY2021