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April 2, 2018
 
China Corn Weekly: Market softens as buyers hold back buying(week ended Mar 30, 2018)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

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

Region

City/ Port

Price type

Price as of Mar 23 (RMB/tonne)

Price as of Mar 30 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,750

1,730

-20

Jilin

Changchun

Ex-warehouse

1,830

1,830

0

Liaoning

Shenyang

Ex-warehouse

1,890

1,890

0

Inner Mongolia

Tongliao

Ex-warehouse

1,830

1,780

-50

Shandong

Dezhou

Ex-warehouse

1,950

1,950

0

Shandong

Weifang

Ex-warehouse

2,070

2,050

-20

Hebei

Shijiazhuang

Ex-warehouse

1,920

1,910

-10

Henan

Zhengzhou

Ex-warehouse

2,010

2,010

0

Jiangsu

Xuzhou

Ex-warehouse

2,000

2,000

0

Shaanxi

Xi'an

Ex-warehouse

1,980

2,000

20

Jiangsu

Lianyungang

Rail Station

1,940

1,910

-30

Zhejiang

Hangzhou

Rail Station

1,980

1,980

0

Shanghai

-

Rail Station

2,000

2,000

0

Sichuan

Chengdu

Rail Station

2,260

2,260

0

Liaoning

Dalian

FOB

1,930

1,880

-50

Liaoning

Jinzhou

FOB

1,940

1,880

-60

Guangdong

Shekou Port

CIF

2,040

1,995

-45

Fujian

Fuzhou

CIF

2,070

2,050

-20

All prices are representative and are for reference only.
RMB1=US$0.1590 (Apr 2)

 
 
Market analysis
 
As the government is likely to release more reserves corn for auction, buyers withheld purchases of late. Moreover, the poultry market remained weak, hence limiting the consumption of feed. Prices of corn slid considerably in several regions as a result, although markets in some parts of China managed to stand firm.
 
On average, corn prices dipped 0.82% during the period in review.
 
 
Market forecast
 
Corn prices are less likely to strengthen in the near term as the state releasesreserves corn for sales. However, with supplies of fresh corn tight, the downward scope of the market will be limited.
 

 


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