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September 5, 2016
 
China Corn Weekly: Slow but steady rise in prices (week ended Sep 2, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to higher.
 

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

Region

City/ Port

Price type

Price as of Aug 26   (RMB/tonne)

Price as of Sep 2   (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

1,828

1,840

12

Shandong

Dezhou

Ex-warehouse

1,842

1,860

18

Shandong

Weifang

Ex-warehouse

1,850

1,850

0

Hebei

Shijiazhuang

Ex-warehouse

1,822

1,830

8

Henan

Zhengzhou

Ex-warehouse

1,800

1,812

12

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,780

1,780

0

Jiangsu

Lianyungang

Rail Station

1,850

1,850

0

Zhejiang

Hangzhou

Rail Station

1,960

1,976

16

Shanghai

-

Rail Station

1,960

1,976

16

Sichuan

Chengdu

Rail Station

2,070

2,094

24

Liaoning

Dalian

FOB

1,840

1,840

0

Liaoning

Jinzhou

FOB

1,840

1,840

0

Guangdong

Shekou Port

CIF

1,940

1,960

20

Fujian

Fuzhou

CIF

1,950

1,958

8

All prices are representative and are for reference only.
RMB1=US$0.1498 (Sep 5)

 
 
Market analysis
 
The demand for state-auctioned corn was flat as buyers preferred better quality, fresh corn from early harvest in the northern parts of China. Hence, even as the supplies of state corn were abundant, corn prices strengthened over the week in review, albeit marginally.
 
With prices stable to higher nationwide, average corn price increased by a greater margin of 0.40%, compared with the previous week's meagre 0.16% uptick.
 
 
Market forecast
 
Demand for animal feed is set to expand but at a slow pace as feed millers stay prudent. Sales of corn will remain firm, nevertheless, lending support to the prices. Although supplies of corn are expected to increase with more crops from the early harvest ready for sale corn prices should move higher, albeit modestly.
 
 


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