May 26, 2020
China Corn Weekly: Prices soften as traders clear stocks (ended May 22, 2020)
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Prices were stable to lower.
Corn availability remained limited although traders attempted to clear stocks as the government is expected to release state reserves for auction soon. Demand wise, feed millers were less keen to stock inventories with transportation costs increased and the sales of animal feed slow amid cautious mood.
Traders will expedite releases with the state corn auction around the corner. This, in conjunction with prudent buying, will exert pressure on the corn market.
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