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MARKET

June 19, 2017
 
China Corn Weekly: Market under pressure amid slack demand, plentiful supply (week ended Jun 16, 2016)
 
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 Jun 9   (RMB/tonne)

Price as of Jun 16  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,416

1,410

-6

Jilin

Changchun

Ex-warehouse

1,530

1,530

0

Liaoning

Shenyang

Ex-warehouse

1,570

1,570

0

Inner Mongolia

Tongliao

Ex-warehouse

1,580

1,580

0

Shandong

Dezhou

Ex-warehouse

1,630

1,636

6

Shandong

Weifang

Ex-warehouse

1,630

1,646

16

Hebei

Shijiazhuang

Ex-warehouse

1,640

1,640

0

Henan

Zhengzhou

Ex-warehouse

1,600

1,600

0

Jiangsu

Xuzhou

Ex-warehouse

1,700

1,700

0

Shaanxi

Xi'an

Ex-warehouse

1,650

1,650

0

Jiangsu

Lianyungang

Rail Station

1,700

1,700

0

Zhejiang

Hangzhou

Rail Station

1,778

1,760

-18

Shanghai

-

Rail Station

1,778

1,760

-18

Sichuan

Chengdu

Rail Station

1,960

1,960

0

Liaoning

Dalian

FOB

1,696

1,666

-30

Liaoning

Jinzhou

FOB

1,694

1,666

-28

Guangdong

Shekou Port

CIF

1,788

1,746

-42

Fujian

Fuzhou

CIF

1,794

1,758

-36

All prices are representative and are for reference only.
RMB1=US$0.1468 (Jun 19)

 

Market analysis
 
With the volumes of state corn auction increasing, the market was under greater pressure. Moreover, poultry feed producers limited corn stockpiles while broiler prices remained weak.
 
Over the week, corn prices dropped 0.52% on average.
 
 
Market forecast
 
Broiler demand is expected to stay slow due to the H7N9 bird flu scare, hence decimating the sales of corn amid limited feed output. Corn market is poised to weaken further with demand sluggish and supply abundant under the sales of state corn reserves.
 
 


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