Corn Futures Touch Fresh 7-Year High on Roaring China Demand Bloomberg 1/27/2021 Kim Chipman and Nicholas Larkin (Bloomberg) -- Corn prices in Chicago reached a seven-year high with China’s appetite for the grain stoking global supply concerns. The U.S. Department of Agriculture on Wednesday unveiled corn export sales to China of 680,000 tons, as well as 132,000 tons of soybeans. That’s on top of a 1.36-million-ton corn export sale to China reported Tuesday, marking the Asian country’s largest one-day purchase from the U.S. since July. China is buying up record amounts of American corn to feed a hog herd recovering from African swine flu. The purchasing spree has rocketed the crop to multiyear highs, raising concerns about higher food prices. Money managers have been betting on a rally, with bullish wagers on corn near the highest in a decade.