China’s June corn imports soar.

China corn imports surged. China also imported 380,000 tonnes of corn in June, nearly six times the level of a year ago and nine times last month’s 42,219 tonnes. Chinese corn prices rallied in June as the nation’s agriculture ministry slashed its corn output forecast to the lowest in four years after droughts in some areas damaged young crops and forced some farmers to switch to other crops. Heavy rains in the south also hindered transportation of the grain, pushing up freight rates and slowed already tight supplies. China’s corn futures hit three-months highs in late June.