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China

January 8, 2018

China Corn Weekly: Market starts 2018 on strong footing (week ended Jan 5, 2018)

An eFeedLink Exclusive
 

Price summary

Prices increased considerably.
 

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

Region

City/ Port

Price type

Price as of Dec 29 (RMB/tonne)

Price as of Jan 5 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,600

1,650

50

Jilin

Changchun

Ex-warehouse

1,670

1,680

10

Liaoning

Shenyang

Ex-warehouse

1,710

1,740

30

Inner Mongolia

Tongliao

Ex-warehouse

1,580

1,580

0

Shandong

Dezhou

Ex-warehouse

1,700

1,730

30

Shandong

Weifang

Ex-warehouse

1,810

1,860

50

Hebei

Shijiazhuang

Ex-warehouse

1,740

1,760

20

Henan

Zhengzhou

Ex-warehouse

1,920

1,920

0

Jiangsu

Xuzhou

Ex-warehouse

1,920

1,920

0

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,790

1,830

40

Zhejiang

Hangzhou

Rail Station

1,940

1,960

20

Shanghai

-

Rail Station

1,920

1,940

20

Sichuan

Chengdu

Rail Station

2,100

2,100

0

Liaoning

Dalian

FOB

1,800

1,820

20

Liaoning

Jinzhou

FOB

1,795

1,850

55

Guangdong

Shekou Port

CIF

1,920

1,960

40

Fujian

Fuzhou

CIF

1,920

1,940

20

All prices are representative and are for reference only.
RMB1=US$0.1540 (Jan 8)

 
 
Market analysis

Farmers were not eager to clear inventories despite releasing more corn to the market. With feed millers stockpiling inventories gradually in preparation for the pre-Chinese New Year market, prices of corn climbed steadily by 1.23% over the week.

Compared with 2017's opening prices, corn cost over 10% higher.
 

Market forecast

Corn demand will be firm as feed producers step up production in preparation for late January's pre-festive market. However, buyers will tread prudently while current corn prices are at multi-month highs.
 


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