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October 31, 2016
 
China Corn Weekly: Prices stabilise in China on tighter supply (week ended Oct 28, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly stable.
 

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

Region

City/ Port

Price type

Price as of Oct 21 (RMB/tonne)

Price as of Oct28 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,558

1,534

-24

Jilin

Changchun

Ex-warehouse

1,660

1,660

0

Liaoning

Shenyang

Ex-warehouse

1,650

1,650

0

Inner Mongolia

Tongliao

Ex-warehouse

1,660

1,660

0

Shandong

Dezhou

Ex-warehouse

1,672

1,710

38

Shandong

Weifang

Ex-warehouse

1,712

1,732

20

Hebei

Shijiazhuang

Ex-warehouse

1,690

1,690

0

Henan

Zhengzhou

Ex-warehouse

1,696

1,712

16

Jiangsu

Xuzhou

Ex-warehouse

1,692

1,680

-12

Shaanxi

Xi'an

Ex-warehouse

1,604

1,608

4

Jiangsu

Lianyungang

Rail Station

1,692

1,680

-12

Zhejiang

Hangzhou

Rail Station

1,900

1,900

0

Shanghai

-

Rail Station

1,900

1,900

0

Sichuan

Chengdu

Rail Station

2,058

2,044

-14

Liaoning

Dalian

FOB

1,700

1,712

12

Liaoning

Jinzhou

FOB

1,700

1,712

12

Guangdong

Shekou Port

CIF

1,880

1,884

4

Fujian

Fuzhou

CIF

1,900

1,904

4

All prices are representative and are for reference only.
RMB1=US$0.1477 (Oct 31)

 
 
Market analysis
 
Corn availability remained sufficient, but the market stabilised as most farmers in the northern region withheld releases with prices below expectations. Meanwhile, the demand from the deep processing sector strengthened hence helping prices to move higher in some regions.
 
Overall, corn prices inched up 0.15% over the week.
 
 
Market forecast
 
The sales of state corn reserves have slowed while newly harvested crops in the northeast regions will only be ready for sale in several weeks' time. Corn prices are seen stable in the near term as the availability tightens, but the upward scope or the market will be limited as buyers will not be eager to stockpile inventories.
 

 


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