China, the world's second-largest corn producer, sold 34,396 tons of the 498,884 tons of the grain it offered in a series of nationwide auctions yesterday, part of government measures to cool rising food inflation.

The grain from stockpiles in seven municipalities and provinces fetched an average price of 1,740 yuan (US$239) a ton, the base price, said the Anhui Grain and Oils Information Center on its Website yesterday.