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China
 
December 26, 2017

China Corn Weekly: Supply concern stimulates buying interest (week ended Dec 22, 2016)

An eFeedLink Exclusive
 

Price summary

Prices surged further.

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

Region

City/ Port

Price type

Price as of Dec 15 (RMB/tonne)

Price as of Dec 22 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,530

1,580

50

Jilin

Changchun

Ex-warehouse

1,640

1,640

0

Liaoning

Shenyang

Ex-warehouse

1,700

1,710

10

Inner Mongolia

Tongliao

Ex-warehouse

1,530

1,580

50

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,790

1,790

0

Hebei

Shijiazhuang

Ex-warehouse

1,700

1,720

20

Henan

Zhengzhou

Ex-warehouse

1,920

1,920

0

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,850

1,850

0

Jiangsu

Lianyungang

Rail Station

1,725

1,790

65

Zhejiang

Hangzhou

Rail Station

1,820

1,880

60

Shanghai

-

Rail Station

1,850

1,880

30

Sichuan

Chengdu

Rail Station

2,020

2,050

30

Liaoning

Dalian

FOB

1,720

1,780

60

Liaoning

Jinzhou

FOB

1,730

1,810

80

Guangdong

Shekou Port

CIF

1,850

1,930

80

Fujian

Fuzhou

CIF

1,860

1,880

20

All prices are representative and are for reference only.
RMB1=US$0.1521 (Dec 26)
 
 
Market analysis

Prices of corn increased at a stronger pace of 1.75% during the period in review. Deep processors and feed producers increased stockpiles amid concerns that corn harvests in the northern region were below expectations. Although port inventories in Guangdong totalled almost 1 million tonnes including imports, spot supplies were tight as about half the stocks have been sold.
 

Market forecast

Corn market is set to remain firm as buying interest is strong. Additionally, feed demand is poised to increase during January while China prepares for the celebration of the Chinese New Year.
 

 


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