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November 14, 2011
 
China Corn Weekly: Supply rise, subdued demand weigh on market (week ended Nov 11, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly lower.
 

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

Region

City/ Port

Price type

Price as of Nov 4  (RMB/tonne)

Price as of Nov 11 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,160

2,112

-48

Jilin

Changchun

Ex-warehouse

2,220

21,56

-64

Liaoning

Shenyang

Ex-warehouse

2,208

2,168

-40

Inner Mongolia

Tongliao

Ex-warehouse

2,292

2,244

-48

Shandong

Dezhou

Ex-warehouse

2,320

2,328

8

Shandong

Weifang

Ex-warehouse

2,400

2,404

4

Hebei

Shijiazhuang

Ex-warehouse

2,308

2,280

-28

Henan

Zhengzhou

Ex-warehouse

2,232

2,254

22

Jiangsu

Xuzhou

Ex-warehouse

2,300

2,260

-40

Shaanxi

Xi'an

Ex-warehouse

2,212

2,200

-12

Jiangsu

Lianyungang

Rail Station

2,500

2,432

-68

Zhejiang

Hangzhou

Rail Station

2,570

2,536

-34

Shanghai

-

Rail Station

2,570

2,550

-20

Sichuan

Chengdu

Rail Station

2,572

2,538

-34

Liaoning

Dalian

FOB

2,328

2,270

-58

Liaoning

Jinzhou

FOB

2,318

2,260

-58

Guangdong

Shekou Port

CIF

2,520

2,462

-58

Fujian

Fuzhou

CIF

2,530

2,512

-18

All prices are representative and are for reference only.
RMB1=US$0.1577 (Nov 14)

 

Market analysis
 
More farmers were eager to release corn stocks as the humid weather posed a challenge to preventing the crops from spoiling. On the other hand, buyers limited purchases while October feed consumption shrank amid flat hog inventories and dwindling aqua feed demand. Consequently, prices of corn were soft amid increased availability and slack buying interest.
 
 
Market forecast
 
In the near term, corn market will remain weak amid ample supplies and slow demand.
 
 


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