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China

January 2, 2018
 
China Corn Weekly: Prices surge to yearly highs (week ended Dec 29, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices continued to rise.
 

Weekly transacted prices of second-grade corn in China (Moisture content 14%)

Region

City/ Port

Price type

Price as of Dec 22 (RMB/tonne)

Price as of Dec 29 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,580

1,600

20

Jilin

Changchun

Ex-warehouse

1,640

1,670

30

Liaoning

Shenyang

Ex-warehouse

1,710

1,710

0

Inner Mongolia

Tongliao

Ex-warehouse

1,580

1,580

0

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,790

1,810

20

Hebei

Shijiazhuang

Ex-warehouse

1,720

1,740

20

Henan

Zhengzhou

Ex-warehouse

1,920

1,920

0

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,920

70

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,790

1,790

0

Zhejiang

Hangzhou

Rail Station

1,880

1,940

60

Shanghai

-

Rail Station

1,880

1,920

40

Sichuan

Chengdu

Rail Station

2,050

2,100

50

Liaoning

Dalian

FOB

1,780

1,800

20

Liaoning

Jinzhou

FOB

1,810

1,795

-15

Guangdong

Shekou Port

CIF

1,930

1,920

-10

Fujian

Fuzhou

CIF

1,880

1,920

40

All prices are representative and are for reference only.
RMB1=US$0.1533 (Jan 2)

 
 
Market analysis
 
Corn prices increased 1.07% over the week,hitting new highs for the year, as demand in the consumption regionstrengthened substantially before the New Year holidays.
 
Since early November, corn prices have surged 4.3% accumulatively. Compared with the closing price of 2016, corn prices were higher by almost 8%.
 
 
Market forecast
 
As corn prices have climbed to levels unseen since Q3 2016, buyers who have stocked ample supplies will be cautious. Prices are therefore likely to consolidate around current levels in the near term.
 
Toward mid-January, expanding animal feed consumption due to the preparation for February's pre-Chinese New Year market will lend support to the sales of corn.
 

 


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