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March 13, 2017
 
China Corn Weekly: Government subsidies lend support to market (week ended Mar 10, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices rebounded lately.
 

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

Region

City/ Port

Price type

Price as of Mar 3 (RMB/tonne)

Price as of Mar 10 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,380

1,380

0

Jilin

Changchun

Ex-warehouse

1,510

1,510

0

Liaoning

Shenyang

Ex-warehouse

1,530

1,530

0

Inner Mongolia

Tongliao

Ex-warehouse

1,520

1,520

0

Shandong

Dezhou

Ex-warehouse

1,620

1,636

16

Shandong

Weifang

Ex-warehouse

1,630

1,630

0

Hebei

Shijiazhuang

Ex-warehouse

1,594

1,624

30

Henan

Zhengzhou

Ex-warehouse

1,600

1,610

10

Jiangsu

Xuzhou

Ex-warehouse

1,640

1,640

0

Shaanxi

Xi'an

Ex-warehouse

1,580

1,580

0

Jiangsu

Lianyungang

Rail Station

1,640

1,640

0

Zhejiang

Hangzhou

Rail Station

1,660

1,676

16

Shanghai

-

Rail Station

1,660

1,676

16

Sichuan

Chengdu

Rail Station

1,840

1,844

4

Liaoning

Dalian

FOB

1,488

1,508

20

Liaoning

Jinzhou

FOB

1,488

1,508

20

Guangdong

Shekou Port

CIF

1,610

1,618

8

Fujian

Fuzhou

CIF

1,640

1,640

0

All prices are representative and are for reference only.
RMB1=US$0.1448 (Mar 13)

 
 
Market analysis
 
Demand for corn increased after the government announced subsidies to feed producers making purchases before April 30 and processed by Q2. This, together with dwindling corn supplies, helped to prop up corn prices in several regions.
 
On average, corn prices increase 0.49% over the week.
 
 
Market forecast
 
As feed producers continue to take advantage of the government's subsidies to expand stocks, corn market will stay firm in the near term. However, feed millers, who are not confident in the outlook of the livestock market, will tread prudently, hence limiting the upward scope of corn market.
 

 


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