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Livestock & Feed Market

July 10, 2017
 
China Corn Weekly: Prices climb to 2017 peak despite state reserves auction(week ended Jul 7, 2017)
 
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 Jun 30 (RMB/tonne)

Price as of Jul 7 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,414

1,420

6

Jilin

Changchun

Ex-warehouse

1,538

1,550

12

Liaoning

Shenyang

Ex-warehouse

1,578

1,590

12

Inner Mongolia

Tongliao

Ex-warehouse

1,588

1,600

12

Shandong

Dezhou

Ex-warehouse

1,692

1,706

14

Shandong

Weifang

Ex-warehouse

1,706

1,732

26

Hebei

Shijiazhuang

Ex-warehouse

1,658

1,670

12

Henan

Zhengzhou

Ex-warehouse

1,648

1,660

12

Jiangsu

Xuzhou

Ex-warehouse

1,700

1,720

20

Shaanxi

Xi'an

Ex-warehouse

1,668

1,680

12

Jiangsu

Lianyungang

Rail Station

1,700

1,720

20

Zhejiang

Hangzhou

Rail Station

1,760

1,770

10

Shanghai

-

Rail Station

1,760

1,770

10

Sichuan

Chengdu

Rail Station

1,972

1,994

22

Liaoning

Dalian

FOB

1,640

1,640

0

Liaoning

Jinzhou

FOB

1,648

1,658

10

Guangdong

Shekou Port

CIF

1,736

1,748

12

Fujian

Fuzhou

CIF

1,746

1,750

4

All prices are representative and are for reference only.
RMB1=US$0.1468 (Jul 10)

 
 
Market analysis
 
Corn market remained firm, rising another 0.75% over the week. Although China government continued to releases state corn reserves for auction, the poor quality of the grains deterred buyers, who turned to the open market for high quality corn. With supplies limited, prices soared to this year's peak even as feed demand remained sluggish.
 
Rising from February's low, corn prices have increased 6%.
 
 
Market forecast
 
Some feed millers will replace corn with freshly harvestedwheat in feed formulation. Nonetheless, prices of wheat are expected to remain strong this year, hence limiting its usages.With supply scarce,prices of high quality corn are set to stay firm.
 

 


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