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May 17, 2018
 
China Corn Weekly: Low fresh grain supply underpins prices(week ended May 11, 2018)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mixed.
 

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

Region

City/ Port

Price type

Price as of May 4 (RMB/tonne)

Price as of May 11 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,630

1,670

40

Jilin

Changchun

Ex-warehouse

1,669

1,690

21

Liaoning

Shenyang

Ex-warehouse

1,710

1,710

0

Inner Mongolia

Tongliao

Ex-warehouse

1,710

1,750

40

Shandong

Dezhou

Ex-warehouse

1,890

1,900

10

Shandong

Weifang

Ex-warehouse

1,870

1,870

0

Hebei

Shijiazhuang

Ex-warehouse

1,800

1,800

0

Henan

Zhengzhou

Ex-warehouse

1,870

1,870

0

Jiangsu

Xuzhou

Ex-warehouse

1,990

2,000

10

Shaanxi

Xi'an

Ex-warehouse

1,810

1,810

0

Jiangsu

Lianyungang

Rail Station

1,795

1,765

-30

Zhejiang

Hangzhou

Rail Station

1,870

1,870

0

Shanghai

-

Rail Station

1,920

2,010

90

Sichuan

Chengdu

Rail Station

2,120

2,100

-20

Liaoning

Dalian

FOB

1,750

1,690

-60

Liaoning

Jinzhou

FOB

1,775

1,785

10

Guangdong

Shekou Port

CIF

1,870

1,850

-20

Fujian

Fuzhou

CIF

1,961

1,900

-61

All prices are representative and are for reference only.
RMB1=US$0.1571 (May 17)

 
 
Market analysis
 
Corn demand remained limited as sow feed sales curtailed usages of the ingredient.
 
However, supplies of fresh corn were tight in some regions although the state corn auction helped to relieve the supply crunch. Hence, even as corn market weakened in some parts of China, in regions where availability was low, prices stabilised or even rebounded lately.
 
On average, corn price inched up 0.09% over the week.
 
 
Market forecast
 
Sales of corn will remain slow while feed millers stay cautious with livestock markets underperforming. However, corn prices are expected to stabilize gradually, even with the government releasing reserves corn to the market, as fresh grains are scarce.
 
In the long term, corn prices are expected to stay strong as planting acreage shrinks while demand grows about 10% next year, according to National Grain and Oils Information Centre.
 

 


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