September 22, 2005

Corn prices in China generally stable but fluctuate in some regions (Sep 22, 2005)

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Corn prices in China were generally stable but fluctuated in a wide range in some regions early this week.

Small quantities of new crop corn were released into some local markets in the Yellow / Huai River production regions, thus slightly easing the recent tight supply situation there. Thus, while corn prices there remained firm, any further gains were seen unlikely.

Following an increase in corn volume delivered from the north-eastern production regions to the southern consumption regions, corn prices in the southern consumption regions gradually stabilised.
 

Meanwhile, arrival volumes of corn from northern to southern Chinese ports continued to increase. Corn prices at ports including Shenzhen and Guangzhou rapidly declined, but the extent of price falls was limited to some degree by the rise in domestic ocean freight costs.

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