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November 21, 2011
 
China Corn Weekly: Prices fall at a slower rate (week ended Nov 18, 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 11 (RMB/tonne)

Price as of Nov 18 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,112

2,092

-20

Jilin

Changchun

Ex-warehouse

2,156

2,140

-16

Liaoning

Shenyang

Ex-warehouse

2,168

2,170

+2

Inner Mongolia

Tongliao

Ex-warehouse

2,244

2,212

-32

Shandong

Dezhou

Ex-warehouse

2,328

2,344

+16

Shandong

Weifang

Ex-warehouse

2,404

2,400

-4

Hebei

Shijiazhuang

Ex-warehouse

2,280

2,280

0

Henan

Zhengzhou

Ex-warehouse

2,254

2,260

+6

Jiangsu

Xuzhou

Ex-warehouse

2,260

2,284

+24

Shaanxi

Xi'an

Ex-warehouse

2,200

2,200

0

Jiangsu

Lianyungang

Rail Station

2,432

2,380

-52

Zhejiang

Hangzhou

Rail Station

2,536

2,520

-16

Shanghai

-

Rail Station

2,550

2,542

-8

Sichuan

Chengdu

Rail Station

2,538

2,526

-12

Liaoning

Dalian

FOB

2,270

2,260

-10

Liaoning

Jinzhou

FOB

2,260

2,250

-10

Guangdong

Shekou Port

CIF

2,462

2,396

-66

Fujian

Fuzhou

CIF

2,512

2,488

-24

All prices are representative and are for reference only.
RMB1=US$0.1573 (Nov 21)

 

Market analysis
 
Offer prices by the deep processing sector were lower as shrinking profits prompted processors to reduce output. However, traders and feed millers continued to stockpile inventories, albeit at a slow rate, hence lending some support to the corn market.
 
Meanwhile, deliveries by rail to the consumption regions have been hampered by the packed rail schedule. Should the situation worsen towards year end due to tighter pre-Chinese New Year rail schedules, inconsistent availability of corn could drive up corn prices.
 
 
Market forecast
 
Corn price falls have slowed down since late October. However, in the near term, corn prices will continue to stay weak due to plentiful supplies and slow demand.
 

 


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