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Japan replace wheat purchases by corn and can benefit Brazil

Brazil, which exported a record corn last year, will be among the main beneficiaries of Japan's return to corn this year, as well as Argentina and Ukraine.

Japan replace wheat purchases by corn and can benefit Brazil

Higher and higher prices may lead Japan to cut almost by half its wheat purchases target for animal feed in the year to March 2014, with the country increasingly sought to corn as a substitute, traders said, reinforcing the trend seen last year to benefit corn suppliers not US.

Source: Source: Reuters

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