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April 30, 2012
 
China Corn Weekly: Demand weakens, drags lower prices (week ended Apr 27, 2012)
 
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Price summary
 
Prices were mostly slower.
 

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

Region

City/ Port

Price type

Price as of Apr 20 (RMB/tonne)

Price as of Apr 27 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,250

2,250

0

Jilin

Changchun

Ex-warehouse

2,310

2,306

-4

Liaoning

Shenyang

Ex-warehouse

2,340

2,336

-4

Inner Mongolia

Tongliao

Ex-warehouse

2,350

2,346

-4

Shandong

Dezhou

Ex-warehouse

2,350

2,348

-2

Shandong

Weifang

Ex-warehouse

2,470

2,466

-4

Hebei

Shijiazhuang

Ex-warehouse

2,300

2,300

0

Henan

Zhengzhou

Ex-warehouse

2,280

2,284

4

Jiangsu

Xuzhou

Ex-warehouse

2,500

2,508

8

Shaanxi

Xi'an

Ex-warehouse

2,180

2,180

0

Jiangsu

Lianyungang

Rail Station

2,520

2,520

0

Zhejiang

Hangzhou

Rail Station

2,550

2,550

0

Shanghai

-

Rail Station

2,604

2,580

-24

Sichuan

Chengdu

Rail Station

2,650

2,650

0

Liaoning

Dalian

FOB

2,452

2,430

-22

Liaoning

Jinzhou

FOB

2,442

2,420

-22

Guangdong

Shekou Port

CIF

2,512

2,515

3

Fujian

Fuzhou

CIF

2,544

2,532

-12

All prices are representative and are for reference only.
RMB1=US$0.1593 (Apr 30)


 
Market analysis
 
Feed millers were cautious with corn purchases due the stormy weather, while the demand from the deep processing sector weakened of late. Corn prices were therefore soft in China, with in some regions registering RMB20-30/tonne falls.
 
 
Market forecast
 
Feed millers and farmers will stay prudent in the coming period, resulting in weak corn prices. Nonetheless, with supplies tightening, corn prices should withstand downward pressure well in the longer term.
 

 


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