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June 2, 2015
 
China Corn Weekly: Upcoming wheat harvest exert pressure on corn market (week ended May 29, 2015)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable.
 

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

Region

City/ Port

Price type

Price as of May 22   (RMB/tonne)

Price as of May 29  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,210

2,210

0

Jilin

Changchun

Ex-warehouse

2,300

2,300

0

Liaoning

Shenyang

Ex-warehouse

2,312

2,320

8

Inner Mongolia

Tongliao

Ex-warehouse

2,310

2,310

0

Shandong

Dezhou

Ex-warehouse

2,342

2,350

8

Shandong

Weifang

Ex-warehouse

2,368

2,360

-8

Hebei

Shijiazhuang

Ex-warehouse

2,300

2,300

0

Henan

Zhengzhou

Ex-warehouse

2,268

2,280

12

Jiangsu

Xuzhou

Ex-warehouse

2,440

2,440

0

Shaanxi

Xi'an

Ex-warehouse

2,350

2,350

0

Jiangsu

Lianyungang

Rail Station

2,440

2,440

0

Zhejiang

Hangzhou

Rail Station

2,560

2,560

0

Shanghai

-

Rail Station

2,560

2,560

0

Sichuan

Chengdu

Rail Station

2,572

2,560

-12

Liaoning

Dalian

FOB

2,430

2,440

10

Liaoning

Jinzhou

FOB

2,430

2,440

10

Guangdong

Shekou Port

CIF

2,530

2,530

0

Fujian

Fuzhou

CIF

2,500

2,500

0

All prices are representative and are for reference only.
RMB1=US$0.1613 (June 2) 

 

Market analysis
 
Supplies of corn increased in the production regions of wheat as farmers and traders released inventories to prepare for the upcoming harvest. Meanwhile, several deep processors withheld purchases of late, curtailing demand in conjunction with limited animal feed production.
 
Consequently, corn prices softened, albeit slightly, in some regions. Nonetheless, prices remained firm in most parts of China with the support of tight availability.
 
 
Market forecast
 
Corn prices should stay around current levels in the coming period. Higher usages of wheat in feed formulation, together with the poor performance of poultry market, will impede the sales of corn, limiting the upward scope of the market.
 
 
 


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