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MARKET

October 23, 2017
 
China Corn Weekly: Limited supply from northern region underpins prices (week ended Oct 20, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly higher.
 

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

Region

City/ Port

Price type

Price as of Oct 13 (RMB/tonne)

Price as of Oct 20 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,580

1,560

-20

Jilin

Changchun

Ex-warehouse

1,630

1,630

0

Liaoning

Shenyang

Ex-warehouse

1,650

1,650

0

Inner Mongolia

Tongliao

Ex-warehouse

1,540

1,540

0

Shandong

Dezhou

Ex-warehouse

1,720

1,700

-20

Shandong

Weifang

Ex-warehouse

1,740

1,740

0

Hebei

Shijiazhuang

Ex-warehouse

1,700

1,680

-20

Henan

Zhengzhou

Ex-warehouse

1,700

1,840

140

Jiangsu

Xuzhou

Ex-warehouse

1,800

1,820

20

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,720

1,730

10

Zhejiang

Hangzhou

Rail Station

1,820

1,820

0

Shanghai

-

Rail Station

1,800

1,820

20

Sichuan

Chengdu

Rail Station

2,060

2,060

0

Liaoning

Dalian

FOB

1,710

1,730

20

Liaoning

Jinzhou

FOB

1,730

1,740

10

Guangdong

Shekou Port

CIF

1,860

1,860

0

Fujian

Fuzhou

CIF

1,780

1,800

20

All prices are representative and are for reference only.
RMB1=US$0.1507 (Oct 23)

 
 
Market analysis
 
Farmers were not motivated to release corn stocks as prices were soft. Additionally, high precipitation climates in the northern region resulted in slower drying of grains and increased mould infections, hence limiting the supplies of corn in the market.
 
As buyers were eager to stock inventories, corn prices rose in most regions, up by 0.57% on average.
 
 
Market forecast
 
With corn availability from the northern region falling below expectations, prices are seen firm in the near term. However, with supplies from the northeastern region set to expand, buyers will withhold buying, hence limiting the upward scope of the market.
 

 


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