date:Feb 01, 2016
cepted by downstream corn processors and should be considered a rational level for domestic corn.
The import price is 20 percent lower than the state support price for the current marketing year ending September, and is lower than the 1,800 yuan price proposed earlier by Chinas top planning agency.
January 2017 corn futures on the Dalian Exchange fell 1.95 percent on Thursday to 1,540 yuan per ton.
However, some traders oppose the cuts, saying they would erode farmers incomes and cause losses