China reduces corn planting area amid excessive stock.

China’s corn planting area is expected to be reduced by 1.33 million hectares in 2017 as the country seeks to address excessive corn stock. The reductions mainly concentrate in areas with low and unsteady output, including the country’s arid northwest and desertified regions in the southwest. Years of support for corn farmers has left China with a substantial stockpile. In 2016, China’s corn output stood at around 220 million tonnes, while stocks amounted to 230 million tonnes.