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September 26, 2016
 
China Corn Weekly: Prices plummet on ample availability (week ended Sep 23, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices fell significantly.
 

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

Region

City/ Port

Price type

Price as of Sep 14  (RMB/tonne)

Price as of Sep 23   (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,760

1,700

-60

Jilin

Changchun

Ex-warehouse

1,800

1,770

-30

Liaoning

Shenyang

Ex-warehouse

1,800

1,770

-30

Inner Mongolia

Tongliao

Ex-warehouse

1,840

1,810

-30

Shandong

Dezhou

Ex-warehouse

1,810

1,740

-70

Shandong

Weifang

Ex-warehouse

1,820

1,763

-57

Hebei

Shijiazhuang

Ex-warehouse

1,807

1,757

-50

Henan

Zhengzhou

Ex-warehouse

1,797

1,738

-58

Jiangsu

Xuzhou

Ex-warehouse

1,860

1,797

-63

Shaanxi

Xi'an

Ex-warehouse

1,740

1,687

-53

Jiangsu

Lianyungang

Rail Station

1,860

1,797

-63

Zhejiang

Hangzhou

Rail Station

1,987

1,980

-7

Shanghai

-

Rail Station

1,987

1,980

-7

Sichuan

Chengdu

Rail Station

2,100

2,100

0

Liaoning

Dalian

FOB

1,840

1,840

0

Liaoning

Jinzhou

FOB

1,840

1,840

0

Guangdong

Shekou Port

CIF

2,000

2,000

0

Fujian

Fuzhou

CIF

1,970

1,970

0

All prices are representative and are for reference only.
RMB1=US$0.1501 (Sep 26)

 
 
Market analysis
 
Demand for corn was stable after the Mid-Autumn Festival holiday. However, supplies of corn increased substantially as the auction of state reserves corn expanded while more spring crops were available.
 
Over the week, corn prices tumbled 1.72% on average.
 
 
Market forecast
 
Feed millers are reluctant to stockpile inventories this year, hence curtailing the sales of corn. Even though pre-festive buying will lend some support to the market, prices are less likely to move higher amid ample supplies.
 
 


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