June 30, 2021
China Corn: Prices 6% below March peak (week ended Jun 28, 2021)
Demand for corn was weak as feed producers limited production while the hog prices tumbled to two year lows. Meanwhile, corn exported surged a whopping 74% between October 2020 and April 2021, compared with the same period in the previous cycle year. Hence, even as local corn supplies were scarce, prices continued to stay soft.
Corn prices will be weak amid sluggish feed demand and abundant imported corn availability. However, with wheat prices staying high and the availability of local corn low, prices are expected to slide gradually
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