China corn exports projection slashed due to supply gap.

China Ministry of Agriculture and Rural Affairs has slashed its projection for the country’s corn exports from Oc 2017 to Sep 2018, due to a supply gap.Corn exports during the period are estimated at 200,000 tonnes, down 300,000 tonnes from the projection made last month. Corn production could not meet domestic demand, and the export amount was below expectations. In the period between October 2018 and September 2019, corn output is expected to drop 2.9 percent year-on-year to 210 million tonnes. That would be a result of higher subsidies for soybean production and drought in certain parts of the northeastern crop growing areas. Meanwhile, corn consumption will continue to grow in that period, partly because of increased demand for pig raising and industrial processing.