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China's 2015/16 corn production estimate revised downward
The relevant agency has revised its forecast for China's 2015/16 corn production downward to 229 million tons, 3 million tons lower than the earlier forecast, due to drought affecting some production areas in Northeast China. However, even after the downward revision, corn production still set a record high, up from the previous year's output
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Industry expects corn prices may still have room to fall around National Day
Since the announcement of the new temporary corn reserve policy, corn prices in the North China and Northeast production areas have all declined, with prices in North China falling particularly sharply, and new and old corn prices are basically the same. At the same time, the pressure from the new corn coming onto the market is gradually emerging, and the corn market at northern and southern ports remains weak.
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