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Drop in US corn crop affects Asian buyers

Asian buyers were surprised by drought in the United States

Drop in US corn crop affects Asian buyers

Corn buyers in Asia, representing almost half of global imports, were taken by surprise due to worsening drought in the United States, which threatens to reduce the overall supply, causing prices to maximum of 10 months.

Asian buyers, including Japan, the world's largest importer, expected the corn market had a relief with the expectations of a record harvest in the United States, a major exporter of the grain.

Source: Source: Reuters

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