August 1, 2016
 
China Corn Weekly: Market weakens with demand sluggish(week endedJul 29, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved lower.
 

Weekly transacted prices of second-grade corn in China (Moisture content 14%)

Region

City/ Port

Price type

Price as of Jul22 (RMB/tonne)

Price as of Jul29 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,780

1,772

-8

Jilin

Changchun

Ex-warehouse

1,840

1,832

-8

Liaoning

Shenyang

Ex-warehouse

1,840

1,832

-8

Inner Mongolia

Tongliao

Ex-warehouse

1,852

1,832

-20

Shandong

Dezhou

Ex-warehouse

1,840

1,828

-12

Shandong

Weifang

Ex-warehouse

1,856

1,834

-22

Hebei

Shijiazhuang

Ex-warehouse

1,820

1,808

-12

Henan

Zhengzhou

Ex-warehouse

1,800

1,800

0

Jiangsu

Xuzhou

Ex-warehouse

1,850

1,850

0

Shaanxi

Xi'an

Ex-warehouse

1,760

1,760

0

Jiangsu

Lianyungang

Rail Station

1,850

1,850

0

Zhejiang

Hangzhou

Rail Station

1,980

1,980

0

Shanghai

-

Rail Station

1,980

1,980

0

Sichuan

Chengdu

Rail Station

2,120

2,108

-12

Liaoning

Dalian

FOB

1,896

1,868

-28

Liaoning

Jinzhou

FOB

1,896

1,868

-28

Guangdong

Shekou Port

CIF

1,984

1,968

-16

Fujian

Fuzhou

CIF

2,000

1,994

-6

All prices are representative and are for reference only.
RMB1=US$0.1507 (Aug 1)

 
 
Market analysis
 
Demand for corn was limited as several deep processors have halted operation for maintenance while feed producers stayed prudent with the poultry prices remaining low despite recent signs of picking up. With over a million tonnes of reserve corn in Heilongjiang ready for auction, prices of corn slid 0.53% over the week.
 
 
Market forecast
 
Corn market is poised to remain weak with demand slow and corn availability more than sufficient. However, sharp falls in prices are less likely with feed demand set to rise in a couple of weeks due to the preparation for the Mooncake Festival. Moreover, with the profitability of corn trading marginal, at a mere RMB10-30/tonne in the southern ports, there is little scope for traders to cut prices further.
 


 
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