CNGOIC raises crop estimates

China National Grain and Oils Information Center (CNGOIC) raised its estimates of 2008 corn and rice production in its latest report. It raised its corn estimate to 165.5 million metric tons (mmt) from its previous estimate of 156 mmt. Paddy rice production was raised to 193 mmt from 189 mmt.

The higher corn number seems to validate the USDA's new China corn estimate...or maybe CNGOIC takes its cues from the USDA reports.

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