October 18, 2016

China Corn Weekly: Market remains weak (week ended Oct 14, 2016)

An eFeedLink Exclusive
 

Price summary

Prices dipped further.
 

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

Region

City/ Port

Price type

Price as of Sep 30 (RMB/tonne)

Price as of Oct 14 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,650

1,600

0

Jilin

Changchun

Ex-warehouse

1,760

1,710

0

Liaoning

Shenyang

Ex-warehouse

1,748

1,670

0

Inner Mongolia

Tongliao

Ex-warehouse

1,792

1,714

-16

Shandong

Dezhou

Ex-warehouse

1,668

1,640

-20

Shandong

Weifang

Ex-warehouse

1,696

1,666

-14

Hebei

Shijiazhuang

Ex-warehouse

1,704

1,690

0

Henan

Zhengzhou

Ex-warehouse

1,690

1,690

0

Jiangsu

Xuzhou

Ex-warehouse

1,744

1,700

-20

Shaanxi

Xi'an

Ex-warehouse

1,654

1,620

-20

Jiangsu

Lianyungang

Rail Station

1,744

1,700

-20

Zhejiang

Hangzhou

Rail Station

1,944

1,900

0

Shanghai

-

Rail Station

1,944

1,900

0

Sichuan

Chengdu

Rail Station

2,090

2,100

0

Liaoning

Dalian

FOB

1,792

1,720

-15

Liaoning

Jinzhou

FOB

1,792

1,720

-15

Guangdong

Shekou Port

CIF

1,980

1,924

-16

Fujian

Fuzhou

CIF

1,958

1,950

0

All prices are representative and are for reference only.
RMB1=US$0.1484 (Oct 18)

 

Market analysis

Corn market was quiet during the first week of October due to the one-week national holidays. After the long break, prices continued to fall while feed millers were slow to resume operation. Additionally, anticipating feed demand to be limited and corn supplies to be abundant, traders were not keen to stockpile inventories.

Prices dropped 0.48% on average during the period in review.
 

Market forecast

Corn supplies have increased as more crops are ready for sale in the major production regions. Prices of corn will due under pressure with availability abundant and the demand for feed sluggish due to low livestock population.
 

 


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