11. Corn exports to Iran had also been growing rapidly in recent years, according to the U.S. Feed Grains Council, an industry group that focuses on grain exports. 12. Corn jumped after China placed a ban on corn exports, potentially forcing world buyers to the U.S. for grain. 13. In addition, the U.S. has lost world market share because of unexpected corn exports from China, leaving U.S. grain exporters with less business. 14. Ma said China recently lifted a ban on corn exports to allow domestic producers to profit from high prices. 15. On other markets, corn futures rose after the USDA reported higher-than-expected corn exports. 16. Slow corn exports and a huge harvest should allow corn reserves to bulge. 17. That raised concern among U.S. farmers that corn exports to the EU could also be banned because it would be difficult to tell the difference between the two. 18. The USDA in a forecast last week lowered its expectations for U.S. corn exports this year. 19. U.S. corn exports have been disappointing, traders said. 20. As a result, the forecast for U.S. corn exports climbed higher, pushing up prices. |