Watch out for grain price hikes! A ship ran aground, threatening to delay the arrival of 410,000 tons of U.S. corn in China

Foreign media reports, Evergreen Marine chartered a large cargo ship in the Suez Canal grounded, all sectors are still trying to rescue, but a number of international trade cargo has been blocked, data show that the United States more than 410,000 tons of corn to China may be delayed.

Reportedly, the canal blockage may delay the United States shipping nearly 7% of the major grain shipments. Since late February a total of 184 freighters and bulk carriers leaving the United States, of which only 12 choose the Suez route, many others have chosen from the Panama Canal or Cape (Cape) route to Asia.

These 12 ships have a total of 767,900 tons of grain, of which 478,500 tons is to be shipped to China, which has 410,000 tons of corn, 68,000 tons of sorghum. Other ships’ destinations are Indonesia, Saudi Arabia, Bangladesh, Jordan, Djibouti, loaded with corn, sorghum, soybeans, wheat and other grains.

China is currently trying to rebuild its pig herd after suffering from African swine fever, so the demand for grains is huge, and this month the U.S. Department of Agriculture also revealed that China signed the second largest corn purchase order on record for the ministry.