March 26, 2018
China Corn Weekly: Low availability underpins prices (week ended Mar 23, 2018)
An eFeedLink Exclusive
Price summary
Prices were mostly higher.
|
Weekly transacted prices of second-grade corn in China (Moisture content 14%) | |||||
|
Region |
City/ Port |
Price type |
Price as of Mar 16 (RMB/tonne) |
Price as of Mar 23 (RMB/tonne) |
Price change (RMB/tonne) |
|
Heilongjiang |
Haerbin |
Ex-warehouse |
1760 |
1750 |
-10 |
|
Jilin |
Changchun |
Ex-warehouse |
1830 |
1830 |
0 |
|
Liaoning |
Shenyang |
Ex-warehouse |
1890 |
1890 |
0 |
|
Inner Mongolia |
Tongliao |
Ex-warehouse |
1830 |
1830 |
0 |
|
Shandong |
Dezhou |
Ex-warehouse |
1940 |
1950 |
10 |
|
Shandong |
Weifang |
Ex-warehouse |
2060 |
2070 |
10 |
|
Hebei |
Shijiazhuang |
Ex-warehouse |
1890 |
1920 |
30 |
|
Henan |
Zhengzhou |
Ex-warehouse |
2010 |
2010 |
0 |
|
Jiangsu |
Xuzhou |
Ex-warehouse |
2000 |
2000 |
0 |
|
Shaanxi |
Xi'an |
Ex-warehouse |
1930 |
1980 |
50 |
|
Jiangsu |
Lianyungang |
Rail Station |
1940 |
1940 |
0 |
|
Zhejiang |
Hangzhou |
Rail Station |
1980 |
1980 |
0 |
|
Shanghai |
- |
Rail Station |
2000 |
2000 |
0 |
|
Sichuan |
Chengdu |
Rail Station |
2260 |
2260 |
0 |
|
Liaoning |
Dalian |
FOB |
1920 |
1930 |
10 |
|
Liaoning |
Jinzhou |
FOB |
1920 |
1940 |
20 |
|
Guangdong |
Shekou Port |
CIF |
2020 |
2040 |
20 |
|
Fujian |
Fuzhou |
CIF |
2070 |
2070 |
0 |
|
All prices are representative and are for reference only. | |||||
Market analysis
Buyers were reluctant to stockpile high inventories of corn as livestock markets underperformed while the outlook of China's economy was uncertain. Nonetheless, prices of corn moved higher, albeit by a marginal 0.40%, on the back of limited availability.
Market forecast
Demand for corn will continue to stay weak due to lack of motivation to stockpile inventories. However, with spot supplies tight, corn prices are projected to remain stable or strengthen modestly.
