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November 4, 2008
 
China Corn Weekly: Prices lower on abundant supplies (week ended Nov 2, 2008)

 

An eFeedLink Exclusive
 


Price summary
 

Prices were lower in most areas.

 

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

Region

Price type

Price as of Nov 2 (RMB/tonne)

Price as of Oct 26(RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

Ex-warehouse

1,520-1,560

1,520-1,560

0

Jilin

Ex-warehouse

1,350

1,350

0

Dalian Port

FOB

1,640

1,670

-30

Hebei

Delivery Price

1,600

1,620

-20

Henan

Delivery Price

1,500

1,500

0

Shanxi

Ex-warehouse

1,420

1,420

0

Shandong

Delivered-to-feedmill

1,600

1,620

-20

Jiangsu

Rail Station

1,700

1,720

-20

Shanghai

Rail Station

1,780

1,800

-20

Zhejiang

Rail Station

1,820

1,820

0

Jiangxi

Rail Station

1,820

1,820

0

Hunan

Rail Station

1,860

1,880

-20

Hubei

Rail Station

1,840

1,840

0

Sichuan

Rail Station

1,730

1,750

-20

Guangdong

CIF

1,740

1,770

-30

Southern part of Guangxi

CIF

1,830

1,860

-30

Fujian

CIF

1,700

1,720

-20

All prices are representative and are for reference only.
RMB1=US$0.1462 (Nov 4)

 
 

Market analysis

 

Corn supplies continued to increase in northeast China. However, high corn planting costs and the government's move to increase the minimum corn acquisition price kept corn prices stable in the region.


Corn prices fell in southern China as supplies exceeded demand.

 
 

Market forecast

 

Near-term corn prices are seen weaker.


 

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