China- Record corn exports.

CHINA.

5 MILLION TON CORN EXPORT.

The government of China, is likely to introduce a 5 million ton corn export quota and subsidize this with government coffers.

China is the worlds second largest corn producer, exporting 4.9 million tons in 2007.

Between May and September this year there were only 11,000 tons exported.

The very cheap shipping costs currently could see the world markets with a glut of corn next year, only months after the media hype about a world food-shortage.

One thing is certain, prices are going to come down, with bumper harvests reported all over the world.