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December 27, 2017

China Corn Weekly: Prices climb as sellers stand firm (week ended Nov 24, 2017)

An eFeedLink Exclusive
 

Price summary

Prices stayed stable.
 

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

Region

City/ Port

Price type

Price as of Oct 20  (RMB/tonne)

Price as of Oct 27  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,490

1,490

0

Jilin

Changchun

Ex-warehouse

1,600

1,610

10

Liaoning

Shenyang

Ex-warehouse

1,610

1,610

0

Inner Mongolia

Tongliao

Ex-warehouse

1,500

1,500

0

Shandong

Dezhou

Ex-warehouse

1,680

1,700

20

Shandong

Weifang

Ex-warehouse

1,800

1,810

10

Hebei

Shijiazhuang

Ex-warehouse

1,690

1,700

10

Henan

Zhengzhou

Ex-warehouse

1,880

1,880

0

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,680

1,690

10

Zhejiang

Hangzhou

Rail Station

1,770

1,790

20

Shanghai

-

Rail Station

1,840

1,840

0

Sichuan

Chengdu

Rail Station

2,050

2,060

10

Liaoning

Dalian

FOB

1,695

1,690

-5

Liaoning

Jinzhou

FOB

1,695

1,700

5

Guangdong

Shekou Port

CIF

1,845

1,830

-15

Fujian

Fuzhou

CIF

1,820

1,820

0

All prices are representative and are for reference only.
RMB1=US$0.1514 (Nov 21)

 

Market analysis

Corn prices were stable to higher in most regions as deep processors increased bidding prices to entice farmers to close deals. However, farmers held back the sales of high quality corn amid anticipation that prices would rise further.

On average, corn prices rose 0.24% during the period in review.
 

Market forecast

Corn market will remain firm with farmers holding back releases. Nevertheless, feed millers will remain cautious while livestock feed demand stays soft, hence limiting the price hikes.
 

 


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