August 26, 2013 
 
China Corn Weekly: Market tumbles for another week (week ended Aug 23, 2013)
 
An eFeedLink Exclusive
 

Price summary
 
Prices were mostly lower.
 

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

Region

City/ Port

Price type

Price as of Aug 16  (RMB/tonne)

Price as of Aug 23 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,160

2,160

0

Jilin

Changchun

Ex-warehouse

2,280

2,276

-4

Liaoning

Shenyang

Ex-warehouse

2,280

2,280

0

Inner Mongolia

Tongliao

Ex-warehouse

2,270

2,270

0

Shandong

Dezhou

Ex-warehouse

2,286

2,280

-6

Shandong

Weifang

Ex-warehouse

2,342

2,324

-18

Hebei

Shijiazhuang

Ex-warehouse

2,268

2,260

-8

Henan

Zhengzhou

Ex-warehouse

2,280

2,260

-20

Jiangsu

Xuzhou

Ex-warehouse

2,420

2,420

0

Shaanxi

Xi'an

Ex-warehouse

2,320

2,320

0

Jiangsu

Lianyungang

Rail Station

2,420

2,420

0

Zhejiang

Hangzhou

Rail Station

2,530

2,522

-8

Shanghai

-

Rail Station

2,520

2,508

-12

Sichuan

Chengdu

Rail Station

2,612

2,602

-10

Liaoning

Dalian

FOB

2,382

2,376

-6

Liaoning

Jinzhou

FOB

2,382

2,376

-6

Guangdong

Shekou Port

CIF

2,462

2,452

-10

Fujian

Fuzhou

CIF

2,486

2,480

-6

All prices are representative and are for reference only.
RMB1=US$0.1633 (Aug 26)

 
 
Market analysis
 
Traders in the north-east region were eager to sell in order to clear old stocks, and sales were slowing in Huabei due to low demand; while in the south, the spring harvest of corn entered the market and reinforced supplies, which dragged down prices. As a result, China corn market continued another week of decline with prices falling in most regions over the past week.
 
 
Market forecast
 
With the spring harvest entering the market in the south, and more imports coming in from abroad, supplies are increasing and China corn market is expected to stay weak in the coming week.
 
 


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