China's Corn Export Quotas Influenced by Drop in Corn Reserve: A Review of China's Corn Market in June 2004
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China's corn prices stayed essentially stable during the month of June. Compared to previous month, China's national average price for 2nd grade yellow corn for June rose by 0.45%, to RMB 1,327/ton. With the arrival of new corn supply from the northeastern regions, trade activity in China's corn market is seen would be gathering pace in the near to medium term.
Due to the drop in corn reserve, China's corn export quotas have reduced significantly this year. Coupled with the highly competitive pricing of US corn in Asian markets, a continuous drop in China's corn export is envisaged for the whole of this year.
More contents in this 2-page report include:
- Gradual Recovery in China's Poultry Industry to Support Corn Prices
- Moisture-Laden Soil Favors Seedling of Summer Corn
- Drought In Northeastern Regions Eased; Corn Prices Seen Moving Steadily Up
- Light Corn Trade Activity in North China
- Fall In Corn Export On Lower Demand From Overseas Markets
