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January 16, 2017


China Corn Weekly: Market shows no signs of stabilising (week ended Jan 13, 2016)


An eFeedLink Exclusive

 


Price summary


Prices stayed soft.

 

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

Region

City/ Port

Price type

Price as of Jan 6 (RMB/tonne)

Price as of Jan 13 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,450

1,450

0

Jilin

Changchun

Ex-warehouse

1,540

1,540

0

Liaoning

Shenyang

Ex-warehouse

1,550

1,550

0

Inner Mongolia

Tongliao

Ex-warehouse

1,550

1,550

0

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

1,683

1,680

-3

Jiangsu

Xuzhou

Ex-warehouse

1,780

1,740

-40

Shaanxi

Xi'an

Ex-warehouse

1,620

1,620

0

Jiangsu

Lianyungang

Rail Station

1,780

1,743

-38

Zhejiang

Hangzhou

Rail Station

1,818

1,768

-51

Shanghai

-

Rail Station

1,818

1,768

-51

Sichuan

Chengdu

Rail Station

1,913

1,880

-33

Liaoning

Dalian

FOB

1,530

1,503

-28

Liaoning

Jinzhou

FOB

1,530

1,503

-28

Guangdong

Shekou Port

CIF

1,695

1,670

-25

Fujian

Fuzhou

CIF

1,708

1,688

-20

All prices are representative and are for reference only.
RMB1=US$0.1450 (Jan 16)


Market analysis


Demand for corn remained sluggish in the consumption region, resulting in falling prices. In the production region, farmers were eager to sell the crops in exchange for cash as the Chinese New Year was round the corner.


Prices of corn fell another 1% during the week in review.

 


Market forecast


Sales of corn are unlikely to improve in the coming weeks as feed producers limit output with the poultry sector troubled by the bird flu outbreak. Moreover, strict pollution controls in the northern parts of China will curtail the production of deep processors and hence corn demand. Corn prices are therefore expected to fall further as supply exceeds demand.
 

 


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