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August 29, 2016
 
China Corn Weekly: Market stays firm amid stronger buying interest (week ended Aug 26, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly stable.

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

Region

City/ Port

Price type

Price as of Oct 30 (RMB/tonne)

Price as of Nov 7 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,760

1,760

0

Jilin

Changchun

Ex-warehouse

1,800

1,800

0

Liaoning

Shenyang

Ex-warehouse

1,800

1,800

0

Inner Mongolia

Tongliao

Ex-warehouse

1,820

1,828

8

Shandong

Dezhou

Ex-warehouse

1,818

1,842

24

Shandong

Weifang

Ex-warehouse

1,834

1,850

16

Hebei

Shijiazhuang

Ex-warehouse

1,810

1,822

12

Henan

Zhengzhou

Ex-warehouse

1,796

1,800

4

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,774

1,780

6

Jiangsu

Lianyungang

Rail Station

1,850

1,850

0

Zhejiang

Hangzhou

Rail Station

1,962

1,960

-2

Shanghai

-

Rail Station

1,962

1,960

-2

Sichuan

Chengdu

Rail Station

2,078

2,070

-8

Liaoning

Dalian

FOB

1,840

1,840

0

Liaoning

Jinzhou

FOB

1,840

1,840

0

Guangdong

Shekou Port

CIF

1,942

1,940

-2

Fujian

Fuzhou

CIF

1,952

1,950

-2

All prices are representative and are for reference only.
RMB1=US$0.1497 (Aug 29)

 
 
Market analysis
 
Demand for corn strengthened as feed consumption expanded while farmers fattened animals before releases prior to Mid-Autumn Festival, which is two weeks away. The take up rates of the state corn auctions increased, while in regions where early crops are already harvested, buyers lifted prices in a bid to procure fresh, good quality corn.
 
On average, corn price inched up 0.16%, an encouraging sign of confirmation of corn market’s stabilisation.
 
          
Market forecast
 
Even though corn supplies will increase as more crops of early harvest are ready for sale, prices are seen stable to higher with feed demand on the rise and buyers keen to stockpile good quality corn. Buyers, who are exceptionally cautious this year, will limit procurements, but this should slow the rate of increase rather than resulting in price falls.
 

 


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