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January 14, 2019
 
China Corn Weekly: Cautious buyers, eager sellers exert pressure on market(week ended Jan 11, 2019)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices weremixed.
 

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

Region

City/ Port

Price type

Price as of
Jan 4
(RMB/tonne)

Price as of
Jan 11
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,706

1,690

-16

Jilin

Changchun

Ex-warehouse

1,724

1,730

6

Liaoning

Shenyang

Ex-warehouse

1,842

1,830

-12

Inner Mongolia

Tongliao

Ex-warehouse

1,840

1,840

0

Shandong

Dezhou

Ex-warehouse

1,882

1,870

-12

Shandong

Weifang

Ex-warehouse

1,892

1,880

-12

Hebei

Shijiazhuang

Ex-warehouse

1,890

1,874

-16

Henan

Zhengzhou

Ex-warehouse

1,878

1,890

12

Jiangsu

Xuzhou

Ex-warehouse

1,888

2,030

42

Shaanxi

Xi'an

Ex-warehouse

1,870

1,870

0

Jiangsu

Lianyungang

Rail Station

1,910

1,910

0

Zhejiang

Hangzhou

Rail Station

1,980

1,988

8

Shanghai

-

Rail Station

1,980

1,988

8

Sichuan

Chengdu

Rail Station

2,198

2,168

-30

Liaoning

Dalian

FOB

1,910

1,910

0

Liaoning

Jinzhou

FOB

1,900

1,902

2

Guangdong

Shekou Port

CIF

1,994

1,902

-92

All prices are representative and are for reference only.
RMB1=US$0.1478 (Jan 14)

 
 
Market analysis
 
Demand for corn from the livestock sector remained limited as feed producers stayed cautious. Hence, even as deep processors expanded stocks prior to the Chinese New Year holidays helping to lift prices in some regions, average corn price decreased 0.35% over the week.
 
 
Market forecast
 
Corn farmers, who usually need cash to service loans before Chinese New Year, will be compelled to cut prices to move sales. This, coupled with sluggish demand from the livestock and feed sectors, will put a lid on corn prices despite pre-festive buying.
 

 


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