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April 17, 2017
 
China Corn Weekly: : Tight supply, firm demand lift prices (week ended Apr 14, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

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

Region

City/ Port

Price type

Price as of Apr 7  (RMB/tonne)

Price as of Apr 14  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,390

1,390

0

Jilin

Changchun

Ex-warehouse

1,520

1,520

0

Liaoning

Shenyang

Ex-warehouse

1,540

1,540

0

Inner Mongolia

Tongliao

Ex-warehouse

1,530

1,530

0

Shandong

Dezhou

Ex-warehouse

1,650

1,638

-12

Shandong

Weifang

Ex-warehouse

1,660

1,648

-12

Hebei

Shijiazhuang

Ex-warehouse

1,637

1,640

3

Henan

Zhengzhou

Ex-warehouse

1,620

1,620

0

Jiangsu

Xuzhou

Ex-warehouse

1,640

1,658

18

Shaanxi

Xi'an

Ex-warehouse

1,640

1,640

0

Jiangsu

Lianyungang

Rail Station

1,640

1,658

18

Zhejiang

Hangzhou

Rail Station

1,700

1,714

14

Shanghai

-

Rail Station

1,700

1,714

14

Sichuan

Chengdu

Rail Station

1,860

1,866

6

Liaoning

Dalian

FOB

1,543

1,582

39

Liaoning

Jinzhou

FOB

1,543

1,582

39

Guangdong

Shekou Port

CIF

1,667

1,692

25

Fujian

Fuzhou

CIF

1,667

1,688

21

All prices are representative and are for reference only.
RMB1=US$0.1452 (Apr 17)

 

Market analysis
 
Several traders held back releases while supplies of corn from the production region tightened, pushing prices in the northeast to annual highs.
 
Meanwhile, demand for corn remained firm as the poultry sector continued to recover while deep processors that qualified for the government's subsidies increased buying.
 
On average, corn prices increased 0.9% over the week.
 
 
Market forecast
 
Tight availability of corn in the market will underpin prices in conjunction with stable demand. However, the upward scope of the market will be limited due to the imminent release of state corn reserves.
 

 


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