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January 29, 2018
 
China Corn Weekly: State auction, slow demand hold prices stable(week ended Jan 26, 2018)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly stable.
 

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

Region

City/ Port

Price type

Price as of Jan 19 (RMB/tonne)

Price as of Jan 26 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,650

1,640

-10

Jilin

Changchun

Ex-warehouse

1,720

1,720

0

Liaoning

Shenyang

Ex-warehouse

1,810

1,810

0

Inner Mongolia

Tongliao

Ex-warehouse

1,760

1,760

0

Shandong

Dezhou

Ex-warehouse

1,800

1,800

0

Shandong

Weifang

Ex-warehouse

1,940

1,940

0

Hebei

Shijiazhuang

Ex-warehouse

1,800

1,820

20

Henan

Zhengzhou

Ex-warehouse

1,950

1,950

0

Jiangsu

Xuzhou

Ex-warehouse

1,940

1,940

0

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,850

1,850

0

Zhejiang

Hangzhou

Rail Station

1,930

1,930

0

Shanghai

-

Rail Station

1,960

1,960

0

Sichuan

Chengdu

Rail Station

2,140

2,180

40

Liaoning

Dalian

FOB

1,860

1,860

0

Liaoning

Jinzhou

FOB

1,870

1,860

-10

Guangdong

Shekou Port

CIF

1,930

1,920

-10

Fujian

Fuzhou

CIF

1,960

1,960

0

All prices are representative and are for reference only.
RMB1=US$0.1581 (Jan 29)

 
 
Market analysis
 
Sales of corn slowed as feed millers who had accumulated some stocks withheld buying. Meanwhile, traders were more eager release inventories as the auction of state corn reserves commenced. Prices stabilised in most parts of China as a result, inching up a negligible 0.07% on average over the week.
 
 
Market forecast
 
The state corn auction will increase the supplies of corn, exerting pressure on the market. With feed millers limiting inventories amid cautious mood, corn prices are likely to move lower in the coming weeks.
 


 
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