The largest grain trader in China, China National Cereals, Oil & Foodstuffs Corp., is ready to export more corn and wheat in the 2006-07 market year. This position is a result of rising international market prices and solid domestic production in
The 2006-07 corn output in
Yu Xubo, vice general manager of COFCO, says exports will keep grain stocks at a reasonable level while supporting domestic prices, but did not state how much export quotas can be expected. "The government will review overall domestic demand and grain reserves before releasing export quotas," he says. COFCO is owned by the Chinese government.
Yu added that production may exceed demand in