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By Bloomberg News (Bloomberg) China is clamping down on some corn imports amid concern that overseas purchases have spiraled out of control, prompting several feed mills to cancel their U.S. cargoes. Chinese customs authorities are restricting imports into free trade zones, which aren’t counted toward an official annual purchase quota, according to people with knowledge of the matter. Total U.S. corn cancellations are estimated to be less than 1 million tons, said two of the people, who asked not to be identified as the matter is private. The increased scrutiny by Beijing over its corn imports comes as the broader market focuses on whether the country will continue its heightened purchases of raw materials from grains to metals to fossil fuels. Prices across a variety of products have soared this year partly because of Chinese demand, raising import costs and sparking fears over inflation in the Asian nation.

New yorkUnited statesMike dorningMichael hirtzerMatt bennettKim chipmanChad brownNatalia kniazhevichDavid martinMartin fund managementCofco corpPeterson institute for international economicsBloomberg newsPeterson instituteInternational economicsபுதியது யார்க்