June 2, 2020
China Corn Weekly: High reserves sales weigh on prices (ended May 29, 2020)
An eFeedLink Exclusive
As the government released 4 million tonnes of reserves corn for sale, which was high than market expectations, abundant availability exerted pressure on the market. Traders who held back releases recently were eager to clear inventories in view of weak prices. Nonetheless, prices remained firm in some parts of China where spot supplies remained tight.
Corn prices are expected to move lower with supplies set to increase prominently toward mid-June, when reserves grains are ready for sale.
Full version of the report is available at https://spoutinfo.com/market-forecast-detail/31/32/265/1833
All rights reserved. No part of the report may be reproduced without permission from eFeedLink.