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November 10, 2008
 

China Corn Weekly: Prices lower as supplies exceed demand (week ended Nov 9, 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 9 (RMB/tonne)

Price as of Nov 2 (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

1,600

1,640

-40

Hebei

Delivery Price

1,580

1,600

-20

Henan

Delivery Price

1,500

1,500

0

Shanxi

Ex-warehouse

1,420

1,420

0

Shandong

Delivered-to-feedmill

1,580

1,600

-20

Jiangsu

Rail Station

1,700

1,700

0

Shanghai

Rail Station

1,740

1,740

0

Zhejiang

Rail Station

1,820

1,820

0

Jiangxi

Rail Station

1,820

1,820

0

Hunan

Rail Station

1,860

1,860

0

Hubei

Rail Station

1,820

1,840

-20

Sichuan

Rail Station

1,710

1,730

-20

Guangdong

CIF

1,700

1,740

-40

Southern part of Guangxi

CIF

1,780

1,830

-50

Fujian

CIF

1,680

1,700

-20

All prices are representative and are for reference only.
RMB1=US$0.1465 (Nov 10)
 

Market analysis
 
Abundant supplies of corn and lower prices of other raw materials for feed added pressure to corn prices.
 
Prices fell in the main corn consumption regions of Jilin, Shandong and southern China as deep corn processing plants in those regions were seeking lower prices for corn and asking for smaller quantities.
 
Corn prices were stable in other areas.
 
 
Market forecast
 

Corn prices are seen weaker in the near-term amid more weakness in demand.

 

 

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