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China Corn Improves After Good Weather, Survey Says
08.06.2010 11:43 "Agro Perspectiva" (Kyiv) —
Corn crops in the top-producing regions of China, the world’s second-largest consumer, are in better condition than last month as warm, sunny weather reduced stress caused by rain and cold temperatures, a survey showed.
Eleven of 15 farmers interviewed by Bloomberg in three northeastern provinces last week said seedlings also appeared healthier than at the same time in the past two years because of good soil moisture and sunlight. The remaining four said the young plants were in average or worse condition.
A bigger crop may slow a surge in domestic prices and reduce the need for increased imports. Delayed planting of the main crop helped send local prices to records, prompting companies including state-owned Cofco Ltd. to make the biggest purchase of U.S. corn in 14 years, and spurring stockpile sales.
«Output may increase a little bit from last year» given the improved crop conditions, Li Qiang, managing director at Shanghai JC Intelligence Co., said by phone June 3 from Jilin, where he was carrying out a separate survey. His findings were similar to those from the Bloomberg interviews, he said.
About 90 percent of seeds planted by the interviewed farmers had emerged, which may be considered above average, they said. They didn’t know how their crops would be officially rated, they said. The interviews were conducted in Heilongjiang, Jilin and Liaoning provinces.
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