China Corn Purchase 1 of Its Largest Ever

China has made one of its biggest-ever purchases of corn on overseas markets, buying 900,000 metric tons of American corn and showing that growing Chinese demand will play an ever larger role in global grain prices.

The country was a net exporter of corn until 2009 but is now struggling to keep up with growing demand for the grain -- which is mainly used in China as animal feed -- as incomes increase and people eat more meat.