Feiwen Rong (’03) and Jae Hur, Bloomberg
December 22, 2006

Corn prices in China, the world’s second-biggest producer, rose to a record as domestic demand looked set to swallow the country’s largest-ever harvest and reduce exports.

Rising local prices made overseas sales unprofitable, state- affiliated agricultural research groups said. China sold corn for export at $160 a ton in September and the grain now costs more than $190 on the domestic market, said Li Ke, analyst at the National Grain & Oils Information Center. Corn on the Dalian Commodity Exchange gained 20 percent this year.

Read the rest of the article here.