China Allowing Corn Exports, First Time in a Decade

October 4, 2016 03:20 PM

Big crops in the U.S. are expected to get more competition on the world market as China announces plans to start exporting it’s massive corn stockpile.

This would be the first time in 10 years China issued permits to export.

Officials are giving two state-owned companies permission to sell corn abroad from the world’s second largest producer.

According to analysts, dumping corn into the global market could further pressure U.S. prices.

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