April 28, 2020
China Corn Weekly: Market strengthens amid dwindling availability (ended Apr 24, 2020)
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Prices continued to rise.
Corn prices showed no signs of stabilising in China as supplies continued to tighten. Nonetheless, prices hikes were gradual as weak poultry feed demand dampened the confidence of feed producers.
Usages of corn were slow while feed production and deep processing output were limited amid soft demand. However, traders lifted prices further as supplies dwindled with farmers having limited stocks to offer.
China's corn availability, particularly that of high quality stocks, is set to tighten. Buyers will build inventories in prevention of supply shortages as the main corn harvest is still about half a year away.
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