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China

December 27, 2018

China Corn Weekly: Market softens as supply exceeds demand (week ended Dec 21, 2018)

An eFeedLink Exclusive
 

Price summary

Prices moved lower.
 

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

Region

City/ Port

Price type

Price as of
Dec 14
(RMB/tonne)

Price as of
Dec 21
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1770

1754

-16

Jilin

Changchun

Ex-warehouse

1770

1768

-2

Liaoning

Shenyang

Ex-warehouse

1870

1860

-10

Inner Mongolia

Tongliao

Ex-warehouse

1850

1848

-2

Shandong

Dezhou

Ex-warehouse

1910

1894

-16

Shandong

Weifang

Ex-warehouse

1910

1904

-6

Hebei

Shijiazhuang

Ex-warehouse

1910

1910

0

Henan

Zhengzhou

Ex-warehouse

1920

1912

-8

Jiangsu

Xuzhou

Ex-warehouse

1960

1960

0

Shaanxi

Xi'an

Ex-warehouse

1870

1870

0

Jiangsu

Lianyungang

Rail Station

1938

1934

-4

Zhejiang

Hangzhou

Rail Station

2050

2038

-12

Shanghai

-

Rail Station

2050

2038

-12

Sichuan

Chengdu

Rail Station

2260

2242

-18

Liaoning

Dalian

FOB

1938

1938

0

Liaoning

Jinzhou

FOB

1928

1918

-10

Guangdong

Shekou Port

CIF

2040

2026

-14

All prices are representative and are for reference only.
RMB1=US$0.1450 (Dec 27)

 

Market analysis

Supplies of corn increased, exerting pressure on the market. Prices slid for the consecutive second week with livestock feed demand slow.

On average, corn prices dropped 0.39% over the week.
 

Market forecast

Farmers will be compelled to release stocks in the coming weeks before the Chinese New Year holidays. With the availability of reserved corn ample and feed millers reluctant to increase stocks, corn prices are expected to trend lower.
 

 


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