Foreign Corn Deficit- 08/24/2020

In the August WAOB report USDA calculated the foreign corn deficit at 57 million tonnes in 2020/21 compared to  51 million tonnes last season.Most of the deficit was attributable to China. China has already purchased about six million tonnes of new crop U.S. corn compared to two.million tonnes in 2019/2020.USDA expects U.S. corn exports will increase more than 400 million bushels or 11 million tonnes next season.