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August 16, 2016
 
China Corn Weekly: Tepid demand continues to weigh on prices (week endedAug 12, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Slower price falls.
 

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

Region

City/ Port

Price type

Price as of Aug 5     (RMB/tonne)

Price as of Aug 12   (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,760

1,760

0

Jilin

Changchun

Ex-warehouse

1,804

1,800

-4

Liaoning

Shenyang

Ex-warehouse

1,804

1,800

-4

Inner Mongolia

Tongliao

Ex-warehouse

1,820

1,820

0

Shandong

Dezhou

Ex-warehouse

1,810

1,810

0

Shandong

Weifang

Ex-warehouse

1,820

1,820

0

Hebei

Shijiazhuang

Ex-warehouse

1,800

1,800

0

Henan

Zhengzhou

Ex-warehouse

1,800

1,788

-12

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,760

1,760

0

Jiangsu

Lianyungang

Rail Station

1,850

1,850

0

Zhejiang

Hangzhou

Rail Station

1,980

1,980

0

Shanghai

-

Rail Station

1,980

1,980

0

Sichuan

Chengdu

Rail Station

2,100

2,100

0

Liaoning

Dalian

FOB

1,850

1,842

-8

Liaoning

Jinzhou

FOB

1,850

1,842

-8

Guangdong

Shekou Port

CIF

1,960

1,952

-8

Fujian

Fuzhou

CIF

1,980

1,964

-16

All prices are representative and are for reference only.
RMB1=US$0.1507 (Aug 16)

 
 
Market analysis
 
Demand for corn was flat as most feed millers possessed ample stocks, dragging prices lower by 0.18%. The take up rate of the state corn auction dropped considerably while buyers withheld purchases. Even as traders lowered price quotes, trade was light over the week.
 
 
Market forecast
 
Corn market is expected to remain weak in the near term with demand slack. Although prices of broiler and egg have increased lately, farmers and feed producers are prudent as the outlook of the livestock market remains uncertain.
 
 


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