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MARKET

September 11, 2018
 
China Corn Weekly: Concerns over upcoming harvest lift demand (week ended Sep 10, 2018)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained firm.
 

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

Region

City/ Port

Price type

Price as of Aug 31 (RMB/tonne)

7-Sep

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,620

1,620

0

Jilin

Changchun

Ex-warehouse

1,650

1,650

0

Liaoning

Shenyang

Ex-warehouse

1,710

1,710

0

Inner Mongolia

Tongliao

Ex-warehouse

1,700

1,700

0

Shandong

Dezhou

Ex-warehouse

1,800

1,840

40

Shandong

Weifang

Ex-warehouse

1,920

1,920

0

Hebei

Shijiazhuang

Ex-warehouse

1,830

1,850

20

Henan

Zhengzhou

Ex-warehouse

1,840

1,840

0

Jiangsu

Xuzhou

Ex-warehouse

1,880

1,880

0

Shaanxi

Xi'an

Ex-warehouse

1,820

1,820

0

Jiangsu

Lianyungang

Rail Station

1,778

1,808

30

Zhejiang

Hangzhou

Rail Station

1,850

1,850

0

Shanghai

-

Rail Station

1,920

1,920

0

Sichuan

Chengdu

Rail Station

2,030

2,030

0

Liaoning

Dalian

FOB

1,768

1,808

40

Liaoning

Jinzhou

FOB

1,798

1,808

10

Guangdong

Shekou Port

CIF

1,880

1,910

30

Fujian

Fuzhou

CIF

1,620

1,620

0

All prices are representative and are for reference only.
RMB1=US$0.1458 (Sep 11)

 
 
Market analysis
 
Buyers increased orders of corn, albeit prudently, in anticipation of low harvest volumes due to adverse climates in the northeast. Over the week, average corn price rose by 0.55% to RMB1,821/tonne.
 
 
Market forecast
 
Several deep processors are tempted to increased stockpiles with the quantity and quality of the upcoming corn harvest uncertain. Additionally, the costs of corn farming have increased. These factors will lend support to the corn market even as most buyers will remain cautious and limit buying.
 

 


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