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Executive Talk

March 18, 2019
 
China Corn Weekly: State buying news underpins prices(week ended Mar 15, 2019)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices softened further.
 

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

Region

City/ Port

Price type

Price as of
Mar 8
(RMB/tonne)

Price as of
Mar 15
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,648

1,622

-26

Jilin

Changchun

Ex-warehouse

1,678

1,662

-16

Liaoning

Shenyang

Ex-warehouse

1,760

1,760

0

Inner Mongolia

Tongliao

Ex-warehouse

1,776

1,760

-16

Shandong

Dezhou

Ex-warehouse

1,866

1,857

-9

Shandong

Weifang

Ex-warehouse

1,876

1,867

-9

Hebei

Shijiazhuang

Ex-warehouse

1,840

1,840

0

Henan

Zhengzhou

Ex-warehouse

1,890

1,890

0

Jiangsu

Xuzhou

Ex-warehouse

1,958

1,930

-28

Shaanxi

Xi'an

Ex-warehouse

1,860

1,830

-30

Jiangsu

Lianyungang

Rail Station

1,796

1,872

76

Zhejiang

Hangzhou

Rail Station

1,876

1,872

-4

Shanghai

-

Rail Station

1,876

1,880

4

Sichuan

Chengdu

Rail Station

2,080

2,070

-10

Liaoning

Dalian

FOB

1,796

1,791

-5

Liaoning

Jinzhou

FOB

1,797

1,798

1

Guangdong

Shekou Port

CIF

1,884

1,874

-10

All prices are representative and are for reference only.
RMB1=US$0.1490 (Mar 18)

 
 
Market analysis
 
Corn prices dropped at a slower pace of 0.26% on average.
 
Demand remained sluggish as feed producers limited purchases despite prominently stronger broiler price. Nonetheless, the news that state reserves purchase would total 3.04 million tonnes this year propped up prices in some regions.
 
 
Market forecast
 
Corn demand from the feed sector should remain slow as feed millers lose confidence in the livestock market. However, the state reserves buying of corn will lend support to the market.
 

 


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