January 3, 2017
China Corn Weekly: Eager selling drags down prices (week ended Dec 30, 2016)
An eFeedLink Exclusive
Price summary
Prices dipped further.
|
Weekly transacted prices of second-grade corn in China (Moisture content 14%) | |||||
|
Region |
City/ Port |
Price type |
Price as of Dec 23 (RMB/tonne) |
Price as of Dec 30 (RMB/tonne) |
Price change (RMB/tonne) |
|
Heilongjiang |
Haerbin |
Ex-warehouse |
1,484 |
1,450 |
-34 |
|
Jilin |
Changchun |
Ex-warehouse |
1,574 |
1,540 |
-34 |
|
Liaoning |
Shenyang |
Ex-warehouse |
1,588 |
1,550 |
-38 |
|
Inner Mongolia |
Tongliao |
Ex-warehouse |
1,588 |
1,550 |
-38 |
|
Shandong |
Dezhou |
Ex-warehouse |
1,700 |
1,700 |
0 |
|
Shandong |
Weifang |
Ex-warehouse |
1,680 |
1,680 |
0 |
|
Hebei |
Shijiazhuang |
Ex-warehouse |
1,650 |
1,650 |
0 |
|
Henan |
Zhengzhou |
Ex-warehouse |
1,700 |
1,700 |
0 |
|
Jiangsu |
Xuzhou |
Ex-warehouse |
1,800 |
1,792 |
-8 |
|
Shaanxi |
Xi'an |
Ex-warehouse |
1,632 |
1,620 |
-12 |
|
Jiangsu |
Lianyungang |
Rail Station |
1,800 |
1,792 |
-8 |
|
Zhejiang |
Hangzhou |
Rail Station |
1,908 |
1,872 |
-36 |
|
Shanghai |
- |
Rail Station |
1,908 |
1,872 |
-36 |
|
Sichuan |
Chengdu |
Rail Station |
1,948 |
1,920 |
-28 |
|
Liaoning |
Dalian |
FOB |
1,622 |
1,560 |
-62 |
|
Liaoning |
Jinzhou |
FOB |
1,622 |
1,560 |
-62 |
|
Guangdong |
Shekou Port |
CIF |
1,824 |
1,738 |
-86 |
|
Fujian |
Fuzhou |
CIF |
1,834 |
1,754 |
-80 |
|
All prices are representative and are for reference only. | |||||
Market analysis
As feed millers limited output, demand for corn was weak in the consumption region, dragging prices down at a faster pace than before. In the production region, corn farmers who were in need of cash with Chinese New Year around the corner were more willing to accept lower prices.
Compared with the previous week, corn prices were lower by 1.82% on average.
Market forecast
Farmers will release corn inventories at a faster rate fearing that sluggish post-festive feed demand would weaken prices further. Corn market is expected to stay soft in the coming period.
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