Corn, wheat prices fall despite price floors, giving hog producers breathing room

Prices for major farm commodities are falling in China despite regulators’ attempts to stave off an ongoing collapse in global prices, Dim Sums reported, citing state media and official price figures. Corn prices have fallen about 20% since September, well past a 10% drop in the crop’s price floor announced by authorities that month, according to a report from the Ministry of Agriculture. Wheat prices also began falling in September due to a decline in flour production, according to the state-run Securities Daily. Hog prices are also declining after a summer surge that boosted inflation, but falling corn prices have reduced feed costs, improving hog producers’ profitability.