October 21, 2004

 

 

China's Corn Prices Show Marginal Falls in September Due to Increased Market Supply

 

China's Monthly Corn Report for September 2004
               

An eFeedLink Special Report                                      
 

Below is an abstract of the report: China's Corn Prices Show Marginal Falls in September Due to Increased Market Supply

 

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Corn prices in China recorded marginal falls in September. The monthly nationwide average price for second-grade corn for September 2004 remained unchanged at RMB1,358 /ton compared with August's average price. Analysts said the price falls were due to increased corn supply from the autumn harvest, offloading of old corn stocks by farmers and reduced exports.

 

With the bigger market supply from the increasing availability of newly harvested corn and sales of old corn stockpiles by farmers in northeast, analysts expect corn prices in China to continue moving lower in the near term. However, the price fall is not likely to be too substantial in view of the impending arrival of year-end festivals, which will see a rise in demand for poultry and livestock products.

 

More contents in this 3-page report include:                

 

I       Bumper Autumn Corn Harvest Results In Gradual Price Falls

 

II      Offloading of Old Corn In Northeastern Regions Exert Downward Price Pressure

 

III    Weak Corn Demand In Major Consumption Regions Results In Lower Prices

IV     Launch of China's Corn Futures Trading Seen To Have Direct Impact On Corn Spot Prices

 

V      China Reduces Corn Exports Owing To Low Global Corn Prices

 

VI     Conclusion