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MARKET

April 16, 2018
 
China Corn Weekly: Reserves auction exerts pressure on market (week ended Apr13, 2018)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices slid further.
 

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

Region

City/ Port

Price type

Price as of Apr 6 (RMB/tonne)

Price as of Apr 13 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,710

1,680

-30

Jilin

Changchun

Ex-warehouse

1,780

1,750

-30

Liaoning

Shenyang

Ex-warehouse

1,820

1,800

-20

Inner Mongolia

Tongliao

Ex-warehouse

1,750

1,750

0

Shandong

Dezhou

Ex-warehouse

1,924

1,880

-44

Shandong

Weifang

Ex-warehouse

1,950

1,870

-80

Hebei

Shijiazhuang

Ex-warehouse

1,890

1,850

-40

Henan

Zhengzhou

Ex-warehouse

1,960

1,960

0

Jiangsu

Xuzhou

Ex-warehouse

1,980

1,980

0

Shaanxi

Xi'an

Ex-warehouse

1,950

1,950

0

Jiangsu

Lianyungang

Rail Station

1,850

1,830

-20

Zhejiang

Hangzhou

Rail Station

1,930

1,930

0

Shanghai

-

Rail Station

1,960

1,960

0

Sichuan

Chengdu

Rail Station

2,240

2,180

-60

Liaoning

Dalian

FOB

1,830

1,680

-30

Liaoning

Jinzhou

FOB

1,820

1,750

-30

Guangdong

Shekou Port

CIF

1,940

1,800

-20

Fujian

Fuzhou

CIF

2,000

1,750

0

All prices are representative and are for reference only.
RMB1=US$0.1590 (Apr 16)

 
 
Market analysis
 
Corn prices continued to fall, albeit at a slower pace of 1%, over the week. As China government has scheduled to release 7 million tonnes of state reserves corn in the near term, buyers withheld purchases. Consequently, slow sales exerted pressure on the market despite tight availability of fresh corn.
 
 
Market forecast
 
Corn prices will be soft due to the government's auction of reserves grains. However, with spot supplies limited in the market, corn prices are less likely to drop drastically in the near term.
 


 
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