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March 11, 2019
 
China Corn Weekly: Excess availability drives down prices (week ended Mar 8, 2019)
 
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
Mar 1
(RMB/tonne)

Price as of
Mar 8
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,656

1,648

-8

Jilin

Changchun

Ex-warehouse

1,706

1,678

-28

Liaoning

Shenyang

Ex-warehouse

1,782

1,760

-22

Inner Mongolia

Tongliao

Ex-warehouse

1,800

1,776

-24

Shandong

Dezhou

Ex-warehouse

1,864

1,866

2

Shandong

Weifang

Ex-warehouse

1,874

1,876

2

Hebei

Shijiazhuang

Ex-warehouse

1,844

1,840

-4

Henan

Zhengzhou

Ex-warehouse

1,880

1,890

10

Jiangsu

Xuzhou

Ex-warehouse

2,012

1,958

-54

Shaanxi

Xi'an

Ex-warehouse

1,866

1,860

-6

Jiangsu

Lianyungang

Rail Station

1,834

1,796

-38

Zhejiang

Hangzhou

Rail Station

1,940

1,876

-64

Shanghai

-

Rail Station

1,898

1,876

-22

Sichuan

Chengdu

Rail Station

2,104

2,080

-24

Liaoning

Dalian

FOB

1,834

1,796

-38

Liaoning

Jinzhou

FOB

1,826

1,797

-29

Guangdong

Shekou Port

CIF

1,926

1,884

-42

All prices are representative and are for reference only.
RMB1=US$0.1488 (Mar 11)

 
 
Market analysis
 
Corn farmers continued to release stocks eagerly amid concerns that grains would to run mouldy rapidly with the climate warming up.This, in conjunction with persistently slack demand, drove prices down at a faster pace of 1.2% over the week.
 
 
Market forecast
 
Demand is unlikely to strengthen in the near term with the livestock sectors underperforming. Prices are expected to weaken further amid excess availability of corn.
 

 


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