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MARKET

March 23, 2020
 
China Corn Weekly: Steady demand holds up prices (week ended Mar 20, 2020)
                                                                           
An eFeedLink Exclusive
 
 
Price summary

Prices remained firm.
 

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

Region

City/ Port

Price type

Price as of
Mar 13
(RMB/tonne)

Price as of
Mar 20
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,763

1,765

2.00

Jilin

Changchun

Ex-warehouse

1,780

1,780

0.00

Liaoning

Shenyang

Ex-warehouse

1,830

1,830

0.00

Inner Mongolia

Tongliao

Ex-warehouse

1,800

1,816

16.00

Shandong

Heze

Ex-warehouse

1,888

1,900

12.00

Shandong

Weifang

Ex-warehouse

1,980

1,975

-5.00

Hebei

Shijiazhuang

Ex-warehouse

1,880

1,880

0.00

Henan

Zhengzhou

Ex-warehouse

1,910

1,910

0.00

Jiangsu

Nanjing

Ex-warehouse

2,020

2,020

0.00

Shanxi

Yuncheng

Ex-warehouse

1,930

1,892

-38.00

Liaoning

Bayuquan

Rail Station

1,945

1,945

0.00

Jiangsu

Nantong

Rail Station

1,940

1,945

5.00

Shanghai

-

Rail Station

1,990

2,110

120.00

Sichuan

Chengdu

Rail Station

2,160

2,160

0.00

Liaoning

Dalian

FOB

1,940

1,945

5.00

Liaoning

Jinzhou

FOB

1,940

1,950

10.00

Guangdong

Shekougang

CIF

2,000

1,998

-2.00

All prices are representative and are for reference only.
RMB1=US$0.1409 (Mar 23)


Market analysis
 
Supplies of corn tightened as most farmers have released inventories earlier. Meanwhile, demand stayed firm as large grain companies such as Sinograin continued to stock inventories.Hence, even as poultry feed producers limited buying prudently, corn markets remained firm in most parts of China.
 

Market forecast
 
Steady purchasing of corn by large companies will help to hold up the prices. Nonetheless, low poultry feed consumption will limit the upward scope of corn market in the near term.
 

 

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