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MARKET

January 8, 2019
 
China Corn Weekly: Improved demand stabilises prices (week ended Jan 4, 2019)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained soft.
 

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

Region

City/ Port

Price type

Price as of
Dec 28
(RMB/tonne)

Price as of
Jan 4
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1728

1706

-22

Jilin

Changchun

Ex-warehouse

1740

1724

-16

Liaoning

Shenyang

Ex-warehouse

1852

1842

-10

Inner Mongolia

Tongliao

Ex-warehouse

1832

1840

8

Shandong

Dezhou

Ex-warehouse

1890

1882

-8

Shandong

Weifang

Ex-warehouse

1900

1892

-8

Hebei

Shijiazhuang

Ex-warehouse

1890

1890

0

Henan

Zhengzhou

Ex-warehouse

1878

1878

0

Jiangsu

Xuzhou

Ex-warehouse

1870

1888

18

Shaanxi

Xi'an

Ex-warehouse

1870

1870

0

Jiangsu

Lianyungang

Rail Station

1906

1910

4

Zhejiang

Hangzhou

Rail Station

1990

1980

-10

Shanghai

-

Rail Station

1990

1980

-10

Sichuan

Chengdu

Rail Station

2214

2198

-16

Liaoning

Dalian

FOB

1906

1910

4

Liaoning

Jinzhou

FOB

1894

1900

6

Guangdong

Shekou Port

CIF

1990

1994

4

All prices are representative and are for reference only.
RMB1=US$0.1458 (Jan 8)

 
 
Market analysis
 
Feed producers increased buying at a prudent pace in preparation for early February's long Chinese New Year holidays. However, as most farmers who were tight on cash were eager to close deal, prices of corn remained soft in several regions.
 
On average, corn price inched higher by 0.14% during the week in review.
 
 
Market forecast
 
Corn market will see greater support in the coming weeks as more buyers stock inventories before the festive hiatus. Prices may rise modestly amid strengthened demand but are unlikely to surge prominently due to cautious mood of market participants.
 

 


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