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September 19, 2017
 
China Corn Weekly: Tight availability underpins prices despite cautious demand (week ended Sep 15, 2017)
 
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 Sep 8   (RMB/tonne)

Price as of Sep 15 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,580

1,580

0

Jilin

Changchun

Ex-warehouse

1,610

1,630

20

Liaoning

Shenyang

Ex-warehouse

1,700

1,700

0

Inner Mongolia

Tongliao

Ex-warehouse

1,490

1,490

0

Shandong

Dezhou

Ex-warehouse

1,720

1,780

60

Shandong

Weifang

Ex-warehouse

1,820

1,820

0

Hebei

Shijiazhuang

Ex-warehouse

1,800

1,840

40

Henan

Zhengzhou

Ex-warehouse

1,870

1,870

0

Jiangsu

Xuzhou

Ex-warehouse

1,780

1,820

40

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,720

1,720

0

Zhejiang

Hangzhou

Rail Station

1,770

1,780

10

Shanghai

-

Rail Station

1,880

1,880

0

Sichuan

Chengdu

Rail Station

2,000

2,100

100

Liaoning

Dalian

FOB

1,730

1,730

0

Liaoning

Jinzhou

FOB

1,740

1,720

-20

Guangdong

Shekou Port

CIF

1,780

1,580

0

Fujian

Fuzhou

CIF

1,780

1,630

20

All prices are representative and are for reference only.
RMB1=US$0.1518 (Sep 19)

 
 
Market analysis
 
Corn market stayed firm amid limited supplies. However, buyers were reluctant to stock high inventories as the corn harvest is around the corner. Additionally, ample imports limited the upward scope of the market.
 
With prices gaining in some markets, average corn prices rose by 0.79% over the week.
 
 
Market forecast
 
Feed millers are less likely to accumulate high corn inventories with the long October holidays just a couple of weeks away and feed production hampered by the environmental inspections. However, tight availability will underpin corn prices, preventing prices from falling sharply.
 
 


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