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December 22, 2008
 
China Corn Weekly: Prices fall on poor demand (week ended Dec 21, 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 21(RMB/tonne)

Price as of Dec 14 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

Ex-warehouse

1,360

1,400

-40

Jilin

Ex-warehouse

1,350

1,350

0

Dalian Port

FOB

1,480

1,490

-10

Hebei

Delivery Price

1,360

1,420

-60

Henan

Delivery Price

1,380

1,420

-40

Shanxi

Ex-warehouse

1,360

1,380

-20

Shandong

Delivered-to-feedmill

1,420

1,460

-40

Jiangsu

Rail Station

1,440

1,510

-70

Shanghai

Rail Station

1,460

1,530

-70

Zhejiang

Rail Station

1,480

1,540

-60

Jiangxi

Rail Station

1,550

1,600

-50

Hunan

Rail Station

1,560

1,600

-40

Hubei

Rail Station

1,540

1,560

-20

Sichuan

Rail Station

1,640

1,670

-30

Guangdong

CIF

1,540

1,590

-50

Southern part of Guangxi

CIF

1,570

1,620

-50

Fujian

CIF

1,580

1,580

0

All prices are representative and are for reference only.
RMB1=US$0.1461 (Dec 22)

 

 

Market analysis
 

Corn prices declined on lacklustre demand.

 

Demand from the deep corn processing sector fell on weaker operating margins.

 

At the same time, sow inventories were lower than was expected while a large numbers of poultry was culled amid a bird flu outbreak in southern China. Lower animal inventories subsequently led to weaker corn demand for feed.

 

 

Market forecast

 
Corn prices are expected to be propped up in the near-term by the government's implementation of a series of measures to lift the farming sector.


 

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