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January 27, 2017

 

China Corn Weekly: Market shows no signs of stabilising (week ended Jan 27, 2016)

 

An eFeedLink Exclusive
  


Price summary
 

Prices continued to fall.

 

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

Region

City/ Port

Price type

Price as of Jan 20 (RMB/tonne)

Price as of Jan 27 (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

1,535

-15

Inner Mongolia

Tongliao

Ex-warehouse

1,542

1,515

-27

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,672

1,670

-2

Hebei

Shijiazhuang

Ex-warehouse

1,650

1,650

0

Henan

Zhengzhou

Ex-warehouse

1,680

1,680

0

Jiangsu

Xuzhou

Ex-warehouse

1,728

1,685

-43

Shaanxi

Xi'an

Ex-warehouse

1,620

1,620

0

Jiangsu

Lianyungang

Rail Station

1,728

1,685

-43

Zhejiang

Hangzhou

Rail Station

1,744

1,705

-39

Shanghai

-

Rail Station

1,744

1,705

-39

Sichuan

Chengdu

Rail Station

1,866

1,860

-6

Liaoning

Dalian

FOB

1,488

1,480

-8

Liaoning

Jinzhou

FOB

1,488

1,480

-8

Guangdong

Shekou Port

CIF

1,632

1,610

-22

Fujian

Fuzhou

CIF

1,632

1,610

-22

All prices are representative and are for reference only.
RMB1=US$0.1454 (Jan 27)

 

Market analysis

 

Corn market showed no signs of stabilising as prices slid another 1% during the period in review.

 

As the poultry markets continued to be troubled by the bird flu human deaths, prices of broiler continued to plunge. With the sales of poultry feed tumbling, the handful of feed producers who have not halted operation for the preparation of Chinese New Year limited corn purchases. This, in conjunction with ample corn supplies, dragged prices lower.

 


Market forecast

 

After the one-week hiatus due to Chinese New Year celebration, corn prices are expected to slide further. Corn demand is unlikely to be strong as animal population falls prominently due to high pre-festive releases. Moreover, poultry feed producers will be extremely cautious as the bird flu epidemic in China does not seem to be going away any time soon.

  

 

 

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