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January 28, 2019
 
China Corn Weekly: Prices slide as supply exceeds demand (week ended Jan 25, 2019)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices weremostly weaker.
 

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

Region

City/ Port

Price type

Price as of
Jan 18
(RMB/tonne)

Price as of
Jan 25
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,680

1,664

-16.00

Jilin

Changchun

Ex-warehouse

1,722

1,718

-4.00

Liaoning

Shenyang

Ex-warehouse

1,824

1,814

-10.00

Inner Mongolia

Tongliao

Ex-warehouse

1,820

1,800

-20.00

Shandong

Dezhou

Ex-warehouse

1,856

1,877

21.00

Shandong

Weifang

Ex-warehouse

1,866

1,885

19.00

Hebei

Shijiazhuang

Ex-warehouse

1,870

1,870

0.00

Henan

Zhengzhou

Ex-warehouse

1,882

1,878

-4.00

Jiangsu

Xuzhou

Ex-warehouse

2,030

2,026

-4.00

Shaanxi

Xi'an

Ex-warehouse

1,868

1,870

2.00

Jiangsu

Lianyungang

Rail Station

1,893

1,887

-6.00

Zhejiang

Hangzhou

Rail Station

1,970

1,944

-26.00

Shanghai

-

Rail Station

1,974

1,944

-30.00

Sichuan

Chengdu

Rail Station

2,164

2,160

-4.00

Liaoning

Dalian

FOB

1,897

1,887

-10.00

Liaoning

Jinzhou

FOB

1,884

1,878

-6.00

Guangdong

Shekou Port

CIF

1,986

1,980

-6.00

All prices are representative and are for reference only.
RMB1=US$0.1484 (Jan 28)

 
 
Market analysis
 
Poorer-than-expected livestock feed demand curtailed the sales of corn. Meanwhile, farmers eagerly released corn inventories amid concerns that prices would drop further as livestock feed consumption is traditionally slow after the Chinese New Year holidays.
 
On average, corn price dipped 0.32% over the week.
 
 
Market forecast
 
Sales of corn will dwindle as feed producers gradually halt operation after stocking ample inventories. With supply exceeding demand, corn market is projected to weaken in the coming period.
 

 


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