March 3, 2020
 
China Corn Weekly: Increased delivery, subdued demand soften prices(week ended Feb 28, 2020)
                                                                           
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
Mar 21
(RMB/tonne)

Price as of
Mar 28
(RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1752

1750

-2.00

Jilin

Changchun

Ex-warehouse

1790

1790

0.00

Liaoning

Shenyang

Ex-warehouse

1816

1820

4.00

Inner Mongolia

Tongliao

Ex-warehouse

1772

1780

8.00

Shandong

Dezhou

Ex-warehouse

1916

1900

-16.00

Shandong

Weifang

Ex-warehouse

2044

2020

-24.00

Hebei

Shijiazhuang

Ex-warehouse

1864

1860

-4.00

Henan

Zhengzhou

Ex-warehouse

1904

1900

-4.00

Jiangsu

Xuzhou

Ex-warehouse

2020

2020

0.00

Shaanxi

Xi'an

Ex-warehouse

1800

1800

0.00

Jiangsu

Lianyungang

Rail Station

1907

1909

2.00

Zhejiang

Hangzhou

Rail Station

1920

1908

-12.00

Shanghai

-

Rail Station

2004

2000

-4.00

Sichuan

Chengdu

Rail Station

2192

2180

-12.00

Liaoning

Dalian

FOB

1907

1900

-7.00

Liaoning

Jinzhou

FOB

1914

1919

5.00

Guangdong

Shekou Port

CIF

2000

1980

-20.00

All prices are representative and are for reference only.
RMB1=US$0.1434 (Mar 3)

 
 
Market analysis
 
Demand for corn waned as deliveries improved, hence easing the supply crunch. Feed producers held back purchases in view of poor feed demand, particularly from the poultry sector due to the massive culling of birds and chicks between late January and mid-February. Prices slid in most parts of China, albeit modestly.
 

Market forecast
 
Farmers and traders will be keen to close deals as the rising weather temperature increases the risks of moulding. With feed producers reluctant to step up production in anticipation of weak poultry feed demand, corn prices are expected to weaken further.
 

 


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