China has a four-step plan for improving its corn production:
GMO seeds
Improved soil quality
Increasing the scale of farm operations, and
Subsidies
The high price of corn is reasonable – No. 1 document
There is a fifth element as one official termed the current high price of corn as “reasonable.” China uses 24 percent more land than the U.S. to produce 27 percent less corn. If China achieved the same yield levels as American corn farmers, it would produce 71 percent more corn (445 MMT). But that is a huge leap that would take years to achieve. The No. 1 Document is evidence of the contention by Bryan Lomar of the U.S. Grains Council that there is “systemic” corn import...
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