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MARKET

September 11, 2017
 
China Corn Weekly: Prices climb at a slow pace (week ended Sep 8, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable.
 

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

Region

City/ Port

Price type

Price as of Sep 1  (RMB/tonne)

Price as of Sep 8  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,580

1,580

0

Jilin

Changchun

Ex-warehouse

1,610

1,610

0

Liaoning

Shenyang

Ex-warehouse

1,700

1,700

0

Inner Mongolia

Tongliao

Ex-warehouse

1,490

1,490

0

Shandong

Dezhou

Ex-warehouse

1,710

1,720

10

Shandong

Weifang

Ex-warehouse

1,790

1,820

30

Hebei

Shijiazhuang

Ex-warehouse

1,760

1,800

40

Henan

Zhengzhou

Ex-warehouse

1,850

1,870

20

Jiangsu

Xuzhou

Ex-warehouse

1,780

1,780

0

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,720

1,720

0

Zhejiang

Hangzhou

Rail Station

1,760

1,770

10

Shanghai

-

Rail Station

1,900

1,880

-20

Sichuan

Chengdu

Rail Station

1,980

2,000

20

Liaoning

Dalian

FOB

1,730

1,730

0

Liaoning

Jinzhou

FOB

1,730

1,740

10

Guangdong

Shekou Port

CIF

1,780

1,780

0

Fujian

Fuzhou

CIF

1,780

1,780

0

All prices are representative and are for reference only.
RMB1=US$0.1537 (Sep 11)

 
 
Market analysis
 
Demand for corn stayed firm with the poultry sector recovering. However, corn market lacked momentum to rise prominently with supplies from the state corn reserves plentiful.
 
On average corn price increased 0.37% during the period in review.
 
Meanwhile, in Shandong, about 300,000 acres of corn field was damaged by strong winds and floods, raising concerns for the upcoming corn harvest.
 
 
Market forecast
 
Feed millers are expected to limit purchases with the corn harvest approaching and supplies of corn ample in the market due to the state reserves auction. Nonetheless, with feed demand robust in the period leading to Mid-Autumn Festival, corn market should stay firm in the coming weeks.
 

 

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