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Market Reports

March 26, 2018

China Corn Weekly: Low availability underpins prices (week ended Mar 23, 2018)

An eFeedLink Exclusive
 

Price summary

Prices were mostly higher.
 

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

Region

City/ Port

Price type

Price as of Mar 16 (RMB/tonne)

Price as of Mar 23 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1760

1750

-10

Jilin

Changchun

Ex-warehouse

1830

1830

0

Liaoning

Shenyang

Ex-warehouse

1890

1890

0

Inner Mongolia

Tongliao

Ex-warehouse

1830

1830

0

Shandong

Dezhou

Ex-warehouse

1940

1950

10

Shandong

Weifang

Ex-warehouse

2060

2070

10

Hebei

Shijiazhuang

Ex-warehouse

1890

1920

30

Henan

Zhengzhou

Ex-warehouse

2010

2010

0

Jiangsu

Xuzhou

Ex-warehouse

2000

2000

0

Shaanxi

Xi'an

Ex-warehouse

1930

1980

50

Jiangsu

Lianyungang

Rail Station

1940

1940

0

Zhejiang

Hangzhou

Rail Station

1980

1980

0

Shanghai

-

Rail Station

2000

2000

0

Sichuan

Chengdu

Rail Station

2260

2260

0

Liaoning

Dalian

FOB

1920

1930

10

Liaoning

Jinzhou

FOB

1920

1940

20

Guangdong

Shekou Port

CIF

2020

2040

20

Fujian

Fuzhou

CIF

2070

2070

0

All prices are representative and are for reference only.
RMB1=US$0.1583 (Mar 26)

 

Market analysis

Buyers were reluctant to stockpile high inventories of corn as livestock markets underperformed while the outlook of China's economy was uncertain. Nonetheless, prices of corn moved higher, albeit by a marginal 0.40%, on the back of limited availability.
 

Market forecast

Demand for corn will continue to stay weak due to lack of motivation to stockpile inventories. However, with spot supplies tight, corn prices are projected to remain stable or strengthen modestly.
 

 


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