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December 27, 2016
 
China Corn Weekly: Greater fall in China corn prices amid increased supply(week ended Dec 23, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices fell considerably.
 

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

Region

City/ Port

Price type

Price as of Dec 16 (RMB/tonne)

Price as of Dec 23 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,500

1,484

-16

Jilin

Changchun

Ex-warehouse

1,614

1,574

-10

Liaoning

Shenyang

Ex-warehouse

1,620

1,588

-16

Inner Mongolia

Tongliao

Ex-warehouse

1,624

1,588

-16

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,702

1,680

-4

Hebei

Shijiazhuang

Ex-warehouse

1,650

1,650

0

Henan

Zhengzhou

Ex-warehouse

1,760

1,700

-22

Jiangsu

Xuzhou

Ex-warehouse

1,800

1,800

0

Shaanxi

Xi'an

Ex-warehouse

1,660

1,632

-18

Jiangsu

Lianyungang

Rail Station

1,800

1,800

0

Zhejiang

Hangzhou

Rail Station

1,946

1,908

-22

Shanghai

-

Rail Station

1,946

1,908

-22

Sichuan

Chengdu

Rail Station

1,992

1,948

-22

Liaoning

Dalian

FOB

1,710

1,622

-46

Liaoning

Jinzhou

FOB

1,710

1,622

-46

Guangdong

Shekou Port

CIF

1,940

1,824

-84

Fujian

Fuzhou

CIF

1,950

1,834

-78

All prices are representative and are for reference only.
RMB1=US$0.1439 (Dec 27)

 
 
Market analysis
 
Corn farmers who needed cash as the Chinese New Year approached were more eager to release inventories. However, feed millers were not keen to expand poultry feed output as demand stayed sluggish due to weak prices of egg and broilers. Hence, corn prices fell substantially over the week, particularly in the consumption regions.
 
On average, prices of corn dipped at a faster pace of 1.45%.
 
 
Market forecast
 
Corn supplies are expected to increase as farmers are eager to close deals before the Chinese New Year. This, coupled with lacklustre poultry feed demand, will exert pressure on corn market.
 

 


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