Cofco exporting 1.15 mln tonnes of corn to China from Brazil, shipping data shows

China's Cofco will export an estimated 1.154 million tonnes of Brazilian corn to China over roughly a 30-day window, according to shipping data compiled on Monday by Eduardo Vanin, a partner at Agrinvest Commodities.

Vanin compiled data dating back to Nov. 20 to determine the quantities being exported, combined with the volume of corn expected to reach Chinese shores in coming days, citing information related to 17 vessels.

Of the ships analyzed, seven had set sail while two were still anchored and three were being loaded at Brazilian ports. All shipments belong to Chinese grain trader Cofco, the data showed.

Cofco did not comment immediately. Previously, the has company declined to discuss commercial transactions.

Chinese customs authorities updated a list of approved Brazilian corn exporters last month, a move likely to jump-start sales of Brazilian corn to the world's second-largest economy.

A potential surge of Brazilian corn exports to China may also reshape global trade flows and result in fewer corn sales from farmers in the United States, the world's top corn supplier.

China already buys around 80% of Brazil's soybean output and is Brazil's main trade partner.