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December 19, 2011
 
China Corn Weekly: Market rebounds on demand surge (week ended Dec 16, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly higher.
 

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

Region

City/ Port

Price type

Price as of Dec 9 (RMB/tonne)

Price as of Dec 16(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

2,030

2,046

16

Jilin

Changchun

Ex-warehouse

2,100

2,120

20

Liaoning

Shenyang

Ex-warehouse

2,148

2,174

26

Inner Mongolia

Tongliao

Ex-warehouse

2,140

2,160

20

Shandong

Dezhou

Ex-warehouse

2,340

2,340

0

Shandong

Weifang

Ex-warehouse

2,400

2,416

16

Hebei

Shijiazhuang

Ex-warehouse

2,212

2,200

-12

Henan

Zhengzhou

Ex-warehouse

2,220

2,220

0

Jiangsu

Xuzhou

Ex-warehouse

2,280

2,292

12

Shaanxi

Xi'an

Ex-warehouse

2,180

2,180

0

Jiangsu

Lianyungang

Rail Station

2,348

2,354

6

Zhejiang

Hangzhou

Rail Station

2,430

2,430

0

Shanghai

-

Rail Station

2,420

2,420

0

Sichuan

Chengdu

Rail Station

2,436

2,440

4

Liaoning

Dalian

FOB

2,250

2,296

46

Liaoning

Jinzhou

FOB

2,238

2,286

48

Guangdong

Shekou Port

CIF

2,364

2,426

62

Fujian

Fuzhou

CIF

2,360

2,436

76

All prices are representative and are for reference only.
RMB1=US$0.1578 (Dec 19)

 

Market analysis
 
Corn prices rebounded in most regions on surging demand and news of government stockpiling programme. Over the week, northeastern deep processors raised offer prices while port prices soared amid buoyant restocking demand and lower crop arrivals due to tight railway schedule.
 
 
Market forecast
 
Strong replenishment interest among corn users in preparation for the Lunar New Year holiday should hold corn prices firm in the near term.
 
 
 

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