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March 3, 2017

China Corn Weekly: Prices consolidate lower; weak trends prevail (week ended Mar 3, 2016)

An eFeedLink Exclusive
 

Price summary

Prices were marginally lower.
 

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

Region

City/ Port

Price type

Price as of Feb 24  (RMB/tonne)

Price as of Mar 3  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,388

1,380

-8

Jilin

Changchun

Ex-warehouse

1,510

1,510

0

Liaoning

Shenyang

Ex-warehouse

1,530

1,530

0

Inner Mongolia

Tongliao

Ex-warehouse

1,510

1,520

10

Shandong

Dezhou

Ex-warehouse

1,620

1,620

0

Shandong

Weifang

Ex-warehouse

1,630

1,630

0

Hebei

Shijiazhuang

Ex-warehouse

1,590

1,594

4

Henan

Zhengzhou

Ex-warehouse

1,600

1,600

0

Jiangsu

Xuzhou

Ex-warehouse

1,648

1,640

-8

Shaanxi

Xi'an

Ex-warehouse

1,580

1,580

0

Jiangsu

Lianyungang

Rail Station

1,648

1,640

-8

Zhejiang

Hangzhou

Rail Station

1,668

1,660

-8

Shanghai

-

Rail Station

1,668

1,660

-8

Sichuan

Chengdu

Rail Station

1,846

1,840

-6

Liaoning

Dalian

FOB

1,484

1,488

4

Liaoning

Jinzhou

FOB

1,484

1,488

4

Guangdong

Shekou Port

CIF

1,620

1,610

-10

Fujian

Fuzhou

CIF

1,640

1,640

0

All prices are representative and are for reference only.
RMB1=US$0.1450 (Mar 3)

 

Market analysis

Prices of corn inched higher in several provinces as deliveries were delayed due to the rainy weather. However, sales remained limited as feed producers, who had little confidence in the livestock markets, kept production low.

Overall, corn prices edged lower 0.12% during the week in review.
 

Market forecast

Corn market is expected to remain soft despite some signs of stabilising. With feed demand slack and supplies of corn ample, prices are less likely to strengthen significantly in the coming period.
 

 


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