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November 28, 2016
 
China Corn Weekly: Prices climb slowly but steadily (week ended Nov 25, 2016)
 
An eFeedLink Exclusive
  
  
Price summary
 
Prices rose further.
 

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

Region

City/ Port

Price type

Price as of Nov 18 (RMB/tonne)

Price as of Nov 25 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,510

1,504

-6

Jilin

Changchun

Ex-warehouse

1,630

1,624

-6

Liaoning

Shenyang

Ex-warehouse

1,620

1,620

0

Inner Mongolia

Tongliao

Ex-warehouse

1,630

1,630

0

Shandong

Dezhou

Ex-warehouse

1,692

1,718

26

Shandong

Weifang

Ex-warehouse

1,712

1,738

26

Hebei

Shijiazhuang

Ex-warehouse

1,660

1,660

0

Henan

Zhengzhou

Ex-warehouse

1,750

1,756

6

Jiangsu

Xuzhou

Ex-warehouse

1,692

1,770

78

Shaanxi

Xi'an

Ex-warehouse

1,652

1,660

8

Jiangsu

Lianyungang

Rail Station

1,690

1,770

80

Zhejiang

Hangzhou

Rail Station

1,924

1,946

22

Shanghai

-

Rail Station

1,924

1,946

22

Sichuan

Chengdu

Rail Station

2,020

2,036

16

Liaoning

Dalian

FOB

1,738

1,740

2

Liaoning

Jinzhou

FOB

1,738

1,740

2

Guangdong

Shekou Port

CIF

1,950

1,966

16

Fujian

Fuzhou

CIF

1,968

1,986

18

All prices are representative and are for reference only.
RMB1=US$0.1447 (Nov 28)

 

Market analysis
 
Deliveries of corn remained slow due to the snowy weather in the north while farmers held back releases awaiting the government’s usual support for the market.
 
Consequently, corn prices strengthened steadily in almost all regions as feed millers expanded stockpiles. In the eastern region where availability was particularly low, prices jumped almost 5%.
 

Market forecast
 
Corn prices are set to move higher, albeit gradually. Nonetheless, corn supplies expected to be plentiful due to the autumn harvest, the upward scope of the market is limited.
 

 


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