NEW YORK (Commodity Online) : US, the largest exporter of corn has announced an unusually huge export sale of 1.25m tons of corn to an anonymous destination on Friday, according to agrimoney.com.

The announcement was made by US farm officials. The USDA has confirmed the sales, but has not revealed the buyer identity even as markets speculate the attribution to China: 1mn tons of corn for the current crop year and 250,000 tons for the next.

Meanwhile, US inventories of corn for 2010-11 are currently expected to be at a 15-year low of 17.1m tons,

China’s corn consumption is powered by its affluent middle class whose dietary habits have shifted to meat-based food items thereby driving up livestock feed demand.

Demand for ethanol and starch has also been driving corn consumption.

China is expected to buy 2.5m tons of corn in 2011-12, according to USDA; which is a 15-year high for the country.
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