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December 12, 2011
 
China Corn Weekly: News of state purchases underpins prices(week ended Dec 9, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

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

Region

City/ Port

Price type

Price as of Dec 2   (RMB/tonne)

Price as of Dec 9  (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,060

2,030

-30

Jilin

Changchun

Ex-warehouse

2,116

2,100

-16

Liaoning

Shenyang

Ex-warehouse

2,156

2,148

-8

Inner Mongolia

Tongliao

Ex-warehouse

2,164

2,140

-24

Shandong

Dezhou

Ex-warehouse

2,340

2,340

0

Shandong

Weifang

Ex-warehouse

2,400

2,400

0

Hebei

Shijiazhuang

Ex-warehouse

2,224

2,212

-12

Henan

Zhengzhou

Ex-warehouse

2,220

2,220

0

Jiangsu

Xuzhou

Ex-warehouse

2,284

2,280

-4

Shaanxi

Xi'an

Ex-warehouse

2,180

2,180

0

Jiangsu

Lianyungang

Rail Station

2,364

2,348

-16

Zhejiang

Hangzhou

Rail Station

2,434

2,430

-4

Shanghai

-

Rail Station

2,456

2,420

-36

Sichuan

Chengdu

Rail Station

2,480

2,436

-44

Liaoning

Dalian

FOB

2,246

2,250

+4

Liaoning

Jinzhou

FOB

2,232

2,238

+6

Guangdong

Shekou Port

CIF

2,342

2,364

+22

Fujian

Fuzhou

CIF

2,360

2,360

0

All prices are representative and are for reference only.
RMB1=US$0.1572 (Dec 12)

 
 
Market analysis
 
More corn farmers stood firm and held back releases as news spread that the government would be stocking corn reserves soon. Meanwhile, traders and end users stepped up procurements amid concerns that prices could firm up considerably amid government intervention.
 
 
Market forecast
 
Increased animal feed consumption, due to strengthened festive demand in the coming weeks, and the likely state corn purchases will help to underpin China corn prices.
 

 

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