September 8, 2010

Lacklustre demand at China's weekly corn auction

China sold 19% of 974,600 tonnes of corn reserves it offered in a regular auction Tuesday (Sep 7), the state-backed China National Grain and Oil Information Centre said.

The average price was RMB1,618 (US$238)/tonne.

Demand for state corn reserves has been easing, with the purchased volume down from 33% last week, which was in turn a decline from 88% two weeks ago.