September 28, 2011
China's weekly corn auction attracts no bids
China failed to sell any of the 78 tonnes of corn reserves it offered at an auction on Tuesday (Sep 27), according to the National Grain and Oil Trade Centre.
At the previous corn reserve auction held on September 20, China sold out 278 tonnes of corn from national reserve, or 78.09% of the offer of 356 tonnes, at a price of RMB1,620 (US$253)/tonne.
Transaction rate at the auction was much higher than that of the previous auctions of reserved corn.
