China Imports Over 1 Million Tons of Feed Grain Amid Falling Prices, Stocking Up Before New Crop

• China purchased over 1.2 million tons of imported feed grain in past 2 weeks as prices declined • Purchases included at least 10 cargoes of Ukrainian corn, 5 of US sorghum, and 6 of multi-origin barley • Prices in China have risen as government stocks up reserves to support market before new crop • Livestock sector demand is lackluster as hog farmers operate at a loss • Price gap between local and international markets made purchases attractive for China