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October 24, 2016
 
China Corn Weekly: Prices dip further (week ended Oct 21, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices continued to fall.
 

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

Region

City/ Port

Price type

Price as of Oct 14 (RMB/tonne)

Price as of Oct 21 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,600

1,558

-42

Jilin

Changchun

Ex-warehouse

1,710

1,660

-50

Liaoning

Shenyang

Ex-warehouse

1,670

1,650

-20

Inner Mongolia

Tongliao

Ex-warehouse

1,714

1,660

-54

Shandong

Dezhou

Ex-warehouse

1,640

1,672

32

Shandong

Weifang

Ex-warehouse

1,666

1,712

46

Hebei

Shijiazhuang

Ex-warehouse

1,690

1,690

0

Henan

Zhengzhou

Ex-warehouse

1,690

1,696

6

Jiangsu

Xuzhou

Ex-warehouse

1,700

1,692

-8

Shaanxi

Xi'an

Ex-warehouse

1,620

1,604

-16

Jiangsu

Lianyungang

Rail Station

1,700

1,692

-8

Zhejiang

Hangzhou

Rail Station

1,900

1,900

0

Shanghai

-

Rail Station

1,900

1,900

0

Sichuan

Chengdu

Rail Station

2,100

2,058

-42

Liaoning

Dalian

FOB

1,720

1,700

-20

Liaoning

Jinzhou

FOB

1,720

1,700

-20

Guangdong

Shekou Port

CIF

1,924

1,880

-44

Fujian

Fuzhou

CIF

1,950

1,900

-50

All prices are representative and are for reference only.
RMB1=US$0.1478 (Oct 24)

   
 
Market analysis
 
As more newly harvested corn hit the market, while the demand for animal feed stayed weak, prices of corn dropped further by almost 1% over the week. In the southern coastal regions, price drops were particularly significant as buyers withheld purchases due to typhoons attacks.
 

Market forecast
 
Corn market will remain soft in the coming weeks. With demand for animal feed slow due to diminished inventories and dampened confidence, sales of corn are unlikely to pick up before December. This, together with ample availability due to the autumn harvest, will exert pressure on the market.
 

 


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