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October 3, 2016
 
China Corn Weekly: Lacklustre demand, imminent supply rise weaken prices substantially (week ended Sep 30, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Sharper price falls.
 

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

Region

City/ Port

Price type

Price as of Sep 23  (RMB/tonne)

Price as of Sep 30  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,700

1,650

-50

Jilin

Changchun

Ex-warehouse

1,770

1,760

-10

Liaoning

Shenyang

Ex-warehouse

1,770

1,748

-22

Inner Mongolia

Tongliao

Ex-warehouse

1,810

1,792

-18

Shandong

Dezhou

Ex-warehouse

1,740

1,668

-72

Shandong

Weifang

Ex-warehouse

1,763

1,696

-67

Hebei

Shijiazhuang

Ex-warehouse

1,757

1,704

-53

Henan

Zhengzhou

Ex-warehouse

1,738

1,690

-48

Jiangsu

Xuzhou

Ex-warehouse

1,797

1,744

-53

Shaanxi

Xi'an

Ex-warehouse

1,687

1,654

-33

Jiangsu

Lianyungang

Rail Station

1,797

1,744

-53

Zhejiang

Hangzhou

Rail Station

1,980

1,944

-36

Shanghai

-

Rail Station

1,980

1,944

-36

Sichuan

Chengdu

Rail Station

2,100

2,090

-10

Liaoning

Dalian

FOB

1,840

1,792

-48

Liaoning

Jinzhou

FOB

1,840

1,792

-48

Guangdong

Shekou Port

CIF

2,000

1,980

-20

Fujian

Fuzhou

CIF

1,970

1,958

-12

All prices are representative and are for reference only.
RMB1=US$0.1499 (Oct 3)

 

Market analysis
 
Corn prices dropped significantly by 2.08% over the week as demand softened during late September with feed millers halting operation in preparation for the long break in early October. Moreover, buyers were not eager to stock inventories in view of higher corn supplies and slack feed demand in the coming months.
 
 
Market forecast
 
Corn sales will be slow after early October's one week holiday, as feed millers hold back procurements. This, in conjunction with the imminent rise in supply due to the corn harvest, will drag prices lower.
 

 


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