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| No...the flooding wasn't widespread amongst the main corn producing regions to impact production. In fact it hit demand more than supply....~30% of China's aquaculture was lost in the flooding as the fish and crabs just swam away. This is a seasonal demand pull for soymeal and corn as ponds/enclosures freeze over in the winter. The fingerlings are started in April or so and fed through the summer until Oct/Nov....the floods erased that demand base along with a fair bit of hogs.
That's why Chinese markets haven't responded as many think they should to the floods...the demand culling outweighed any grain production cuts or so the market believes. Note that China has large frozen pork reserves that can be released to quell food inflation in protein without the need for large imports...the floods were not a bullish event...
Edited by JNL 8/29/2016 20:59
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Dalian Corn
