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January 3, 2017


China Corn Weekly: Eager selling drags down prices (week ended Dec 30, 2016)


An eFeedLink Exclusive

 


Price summary


Prices dipped further.

 

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

Region

City/ Port

Price type

Price as of Dec 23 (RMB/tonne)

Price as of Dec 30 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,484

1,450

-34

Jilin

Changchun

Ex-warehouse

1,574

1,540

-34

Liaoning

Shenyang

Ex-warehouse

1,588

1,550

-38

Inner Mongolia

Tongliao

Ex-warehouse

1,588

1,550

-38

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,680

1,680

0

Hebei

Shijiazhuang

Ex-warehouse

1,650

1,650

0

Henan

Zhengzhou

Ex-warehouse

1,700

1,700

0

Jiangsu

Xuzhou

Ex-warehouse

1,800

1,792

-8

Shaanxi

Xi'an

Ex-warehouse

1,632

1,620

-12

Jiangsu

Lianyungang

Rail Station

1,800

1,792

-8

Zhejiang

Hangzhou

Rail Station

1,908

1,872

-36

Shanghai

-

Rail Station

1,908

1,872

-36

Sichuan

Chengdu

Rail Station

1,948

1,920

-28

Liaoning

Dalian

FOB

1,622

1,560

-62

Liaoning

Jinzhou

FOB

1,622

1,560

-62

Guangdong

Shekou Port

CIF

1,824

1,738

-86

Fujian

Fuzhou

CIF

1,834

1,754

-80

All prices are representative and are for reference only.
RMB1=US$0.1438 (Jan 3)

  

  

Market analysis


As feed millers limited output, demand for corn was weak in the consumption region, dragging prices down at a faster pace than before. In the production region, corn farmers who were in need of cash with Chinese New Year around the corner were more willing to accept lower prices.


Compared with the previous week, corn prices were lower by 1.82% on average.

 


Market forecast


Farmers will release corn inventories at a faster rate fearing that sluggish post-festive feed demand would weaken prices further. Corn market is expected to stay soft in the coming period.
 

 


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