The latest data from the General Administration of Customs shows that China will import 360,000 tons of corn and corn flour in October 2025, an increase of 36.1% over the same period last year; From January to October 2025, China will import 1.29 million tons of corn and corn flour, 90% less than that of the same period last year.

The article shows that the cumulative import volume of corn from January to October 2025 decreased by 90% year-on-year, and the supply tightened significantly, which will significantly push up spot prices; Although the import volume increased by 36.1% in October, it was only a short-term fluctuation and could not offset the long-term supply gap. Based on the corn futures data (such as the closing price of contract 2601 at 2,182 RMB/ton, up or down -3), the historical price weakness may be affected by the expectation of reduced imports, but the news has strengthened the expectation of tight supply, and future futures prices are bullish.

As the main downstream product of corn, the article mentioned that the changes in the import volume of corn and corn flour are also applicable to corn starch. A cumulative decrease of 90% in imports from January to October 2025 indicates a sharp contraction in raw material supply, an increase in starch production costs, and a significant rise in spot prices; The 36.1% increase in imports in October is a short-term phenomenon, with overall supply constraints dominating the positive trend. No futures data involved, analysis focuses on the impact of spot trading.

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