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China Allowing Corn Exports

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Big crops in the U.S.A are expected to find more competition on the world market, as China announces plans to start exporting its massive corn stockpile. This would be the first time in 10 years that China has issued permits to export.

Officials are giving two state-owned companies permission to export corn from China, the world’s second largest producer.

According to analysts, dumping corn into the global market could further pressure U.S. prices.