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December 5, 2011
 
China Corn Weekly: Prices remain weak (week ended Dec 2, 2011)
 
An eFeedLink Exclusive
 

Price summary
 
Prices were lower in most regions.
 

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

Province/ Municipality

City/ Port

Price type

Price as of Nov 25  (RMB/tonne)

Price as of Dec 2  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,068

2,060

-8

Jilin

Changchun

Ex-warehouse

2,128

2,116

-12

Liaoning

Shenyang

Ex-warehouse

2,164

2,156

-8

Inner Mongolia

Tongliao

Ex-warehouse

2,200

2,164

-36

Shandong

Dezhou

Ex-warehouse

2,340

2,340

0

Shandong

Weifang

Ex-warehouse

2,400

2,400

0

Hebei

Shijiazhuang

Ex-warehouse

2,256

2,224

-32

Henan

Zhengzhou

Ex-warehouse

2,244

2,220

-24

Jiangsu

Xuzhou

Ex-warehouse

2,300

2,284

-16

Shaanxi

Xi'an

Ex-warehouse

2,188

2,180

-8

Jiangsu

Lianyungang

Rail Station

2,380

2,364

-16

Zhejiang

Hangzhou

Rail Station

2,494

2,434

-60

Shanghai

-

Rail Station

2,514

2,456

-58

Sichuan

Chengdu

Rail Station

2,504

2,480

-24

Liaoning

Dalian

FOB

2,258

2,246

-12

Liaoning

Jinzhou

FOB

2,248

2,232

-16

Guangdong

Shekou Port

CIF

2,350

2,342

-8

Fujian

Fuzhou

CIF

2,470

2,360

-110

All prices are representative and are for reference only.

RMB1=US$0.1571 (Dec 5)

 
 
Market analysis
 
Consistent supplies of corn continued to exert pressure on the market, particularly as traders and feed millers were reluctant to stock inventories with feed demand flat. Several deep processors took the opportunity to accumulate stocks with reduced bidding prices.
 
Market forecast
 
Corn prices should stay soft but are unlikely to fall prominently. Towards late December, feed demand is expected to rise as farmers fatten animals before releases, hence lending support to corn market.
 
 

 
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