JAPAN CUTTING CHINA CORN COMMITMENTS - USDA Japanese traders have apparently sharply reduced commitments to buy Chinese corn over the next six months due to high prices, the U.S. Agriculture Department said. In its World Production and Trade Report, the department said traders indicated China may lack supplies or be unwilling to sell at current low world prices. If the reports are confirmed, China's major export destinations such as USSR, Japan, and South Korea, could increase purchases of U.S. corn, it said. China is currently forecast to export 5.5 mln tonnes of corn during 1986/87 (Oct-Sept), it said.