May 18, 2021

China Corn: Market stable but lacks momentum (week ended May 17, 2021)

Limited availability underpinned prices of corn. Nonetheless, as traders attempted to clear inventories in preparation for the stocking of newly harvested wheat, prices stayed flat over the week.
Low supply, coupled with high stockpiling costs, will prompt sellers to stand firm on prices. However, as feed producers increase the inclusion rates of wheat to substitute the costly corn, the upward scope of the market will be limited.
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