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December 8, 2008
 
China Corn Weekly: Prices lower despite government's support (week ended Dec 7, 2008)

 

An eFeedLink Exclusive
 


Price summary
 

Prices were lower in most regions.

 

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

Region

Price type

Price as of Dec 7 (RMB/tonne)

Price as of Nov 30 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

Ex-warehouse

1,500

1,520

-20

Jilin

Ex-warehouse

1,350

1,350

0

Dalian Port

FOB

1,530

1,560

-30

Hebei

Delivery Price

1,480

1,500

-20

Henan

Delivery Price

1,460

1,480

-20

Shanxi

Ex-warehouse

1,400

1,400

0

Shandong

Delivered-to-feedmill

1,500

1,520

-20

Jiangsu

Rail Station

1,560

1,580

-20

Shanghai

Rail Station

1,600

1,610

-10

Zhejiang

Rail Station

1,630

1,660

-30

Jiangxi

Rail Station

1,600

1,630

-30

Hunan

Rail Station

1,600

1,620

-20

Hubei

Rail Station

1,700

1,730

-30

Sichuan

Rail Station

1,700

1,700

0

Guangdong

CIF

1,630

1,670

-40

Southern part of Guangxi

CIF

1,700

1,720

-20

Fujian

CIF

1,620

1,660

-40

All prices are representative and are for reference only.
RMB1=US$0.1454 (Dec 8)

 

Market analysis

 

Global corn prices driven lower by weakened general economic activity. This affected corn prices negatively in China despite price support measures rendered by the government.
 
At the same time, lower animal replenishment has affected corn demand for feed in China.
 

However, corn supplies increased as farmers rushed to dispose their corn stocks before the year-end. As supplies exceeded demand, corn prices fell.

 

 

Market forecast

 

Corn prices will continue to fall in the near-term.


 

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