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Korea Makes ‘Very Rare’ Purchases of African Corn

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posted on Nov, 24 2010 @ 08:30 PM
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Not sure what relevance this has to anything else, but seems interesting none-the-least. Hope someone can gain some information from this. Feel free to post suggestions of relevance to this. Look forward to hearing replies.

Korea Buys Corn




posted on Nov, 24 2010 @ 08:34 PM
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They realized that US prices for corn have surged due to the insane decision by the USA to subsidize corn growers to use the food supply for ethanol production.

They can foresee the USA needing to import corn, and are positioning themselves as a supplier.



posted on Nov, 24 2010 @ 08:34 PM
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It could be just because the African corn was cheaper (as was stated in the article), or.....maybe they are preparing for war?



posted on Nov, 24 2010 @ 11:46 PM
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The article states




“It’s very rare for South Korea to buy South African corn, maybe once in a blue moon,” said Lee Tae Woong, deputy general manager of the purchasing team at Nonghyup Feed Inc. “This year is an exception as African corn was cheaper than the U.S. grain on ample supplies after good harvests.”


So it looks like nothing new here, except that a loaf of bread might start to cost more in the US



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