April 12, 2012
Northeast China ports' corn stocks beat two million tonnes
Corn supplies at northeastern China's Dalian, Jinzhou and Bayuquan ports have reached 2.07 million tonnes by last Friday (Apr 6), the first time for the stocks going over two million tonnes in 2012, the Futures Daily reported on Tuesday.
Market analysts say that the increase of stocks is mainly attributed to high corn prices and slowing demand for wheat from southern feed enterprises.
However, despite high level of stocks, corn prices in northeastern areas, the major production base in China, maintain the upward momentum boosted by robust demand from local feed companies and large grain traders.
Currently, some of deep corn processing enterprises in northeastern areas are expected to further raise stocks and this will continue to support spot corn prices in Chinese major growing areas.