January 27, 2017
China Corn Weekly: Market shows no signs of stabilising (week ended Jan 27, 2016)
An eFeedLink Exclusive
Price summary
Prices continued to fall.
|
Weekly transacted prices of second-grade corn in China (Moisture content 14%) | |||||
|
Region |
City/ Port |
Price type |
Price as of Jan 20 (RMB/tonne) |
Price as of Jan 27 (RMB/tonne) |
Price change (RMB/tonne) |
|
Heilongjiang |
Haerbin |
Ex-warehouse |
1,450 |
1,450 |
0 |
|
Jilin |
Changchun |
Ex-warehouse |
1,540 |
1,540 |
0 |
|
Liaoning |
Shenyang |
Ex-warehouse |
1,550 |
1,535 |
-15 |
|
Inner Mongolia |
Tongliao |
Ex-warehouse |
1,542 |
1,515 |
-27 |
|
Shandong |
Dezhou |
Ex-warehouse |
1,700 |
1,700 |
0 |
|
Shandong |
Weifang |
Ex-warehouse |
1,672 |
1,670 |
-2 |
|
Hebei |
Shijiazhuang |
Ex-warehouse |
1,650 |
1,650 |
0 |
|
Henan |
Zhengzhou |
Ex-warehouse |
1,680 |
1,680 |
0 |
|
Jiangsu |
Xuzhou |
Ex-warehouse |
1,728 |
1,685 |
-43 |
|
Shaanxi |
Xi'an |
Ex-warehouse |
1,620 |
1,620 |
0 |
|
Jiangsu |
Lianyungang |
Rail Station |
1,728 |
1,685 |
-43 |
|
Zhejiang |
Hangzhou |
Rail Station |
1,744 |
1,705 |
-39 |
|
Shanghai |
- |
Rail Station |
1,744 |
1,705 |
-39 |
|
Sichuan |
Chengdu |
Rail Station |
1,866 |
1,860 |
-6 |
|
Liaoning |
Dalian |
FOB |
1,488 |
1,480 |
-8 |
|
Liaoning |
Jinzhou |
FOB |
1,488 |
1,480 |
-8 |
|
Guangdong |
Shekou Port |
CIF |
1,632 |
1,610 |
-22 |
|
Fujian |
Fuzhou |
CIF |
1,632 |
1,610 |
-22 |
|
All prices are representative and are for reference only. | |||||
Market analysis
Corn market showed no signs of stabilising as prices slid another 1% during the period in review.
As the poultry markets continued to be troubled by the bird flu human deaths, prices of broiler continued to plunge. With the sales of poultry feed tumbling, the handful of feed producers who have not halted operation for the preparation of Chinese New Year limited corn purchases. This, in conjunction with ample corn supplies, dragged prices lower.
Market forecast
After the one-week hiatus due to Chinese New Year celebration, corn prices are expected to slide further. Corn demand is unlikely to be strong as animal population falls prominently due to high pre-festive releases. Moreover, poultry feed producers will be extremely cautious as the bird flu epidemic in China does not seem to be going away any time soon.
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