As much as 70% of Chinese corn stocks could be spoiled

In China, as much as 70% of the country’s 20 million metric tons of corn stocks could be spoiled, leaving its main outlet as feedstock for ethanol but current installed capacity isn’t likely to be able to process such low quality corn. As a result, imports from the US may be required even if China is trying to be coy about such an option while the government may have to subsidize farmers yet again to plant in 2018 due to low prices currently offered for the crop.