Corn feed substitution by wheat likely to continue in China

Corn feed substitution by wheat likely to continue in China in 2021 | Hellenic Shipping News Worldwide


Corn feed substitution by wheat likely to continue in China in 2021
China is expected to continue substituting corn with wheat in 2021 as high corn prices keep pushing local millers to secure a cheaper feed alternative amid signs of pig herd recovery in the country, according to analysts and market participants.
Local corn prices in China have been trending higher than wheat since December 2020, making it easier for the livestock producers to shift from corn to wheat.
As of March 22, the weekly corn price in China was at Yuan 2,806/mt ($428.57/mt), while wheat was at Yuan 2,519/mt. This was also around the time when domestic corn prices shot to multi-year highs in March.

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