Dramatic — that was the word used by shipbroker Simpson Spence Young (SSY) to describe the US Department of Agriculture (USDA)'s upwards revision to its expectations for Chinese corn imports in 2021.
Analysts expect the higher target will further support demand for midsize bulkers in 2021, particularly during the second quarter, as China's appetite for grains goes from strength to strength.
Derek Langston, head of research for SSY, told TradeWinds that the growth of grain trades into China is poised to accelerate this year, particularly for corn.
