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December 15, 2008

China Corn Weekly: Rapid price falls seen (week ended Dec 14, 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 14 (RMB/tonne)

Price as of Dec 7 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

Ex-warehouse

1,400

1,460

-60

Jilin

Ex-warehouse

1,350

1,350

0

Dalian Port

FOB

1,490

1,530

-40

Hebei

Delivery Price

1,420

1,480

-60

Henan

Delivery Price

1,420

1,460

-40

Shanxi

Ex-warehouse

1,380

1,400

-20

Shandong

Delivered-to-feedmill

1,460

1,500

-40

Jiangsu

Rail Station

1,510

1,560

-50

Shanghai

Rail Station

1,530

1,600

-70

Zhejiang

Rail Station

1,540

1,600

-60

Jiangxi

Rail Station

1,600

1,650

-50

Hunan

Rail Station

1,600

1,660

-60

Hubei

Rail Station

1,560

1,650

-50

Sichuan

Rail Station

1,620

1,670

-50

Guangdong

CIF

1,590

1,630

-40

Southern part of Guangxi

CIF

1,620

1,700

-80

Fujian

CIF

1,580

1,620

-30

All prices are representative and are for reference only.
RMB1=US$0.1455 (Dec 15)
 
 
Market analysis

Corn trade was weak in the southern main corn consumption region as livestock rearing activities slowed down.

Lower demand from deep corn processing sector also contributed to the price fall.

A slide in prices led to lower corn planting profits. Many farmers were thus in a hurry to release more of their corn to avoid incurring potential losses. Increased supplies of corn impacted prices further.
 

Market forecast

Livestock rearing activities will be weaker in the cold winter months. However, farmers will be eager to release their corn. As supplies exceed demand, corn prices will continue to fall in the near-term. 
 

 

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