October 30, 2017
China Corn Weekly: Market to face mounting pressure (week ended Oct 27, 2016)
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Price summary
Prices were stable to lower.
|
Weekly transacted prices of second-grade corn in China (Moisture content 14%) | |||||
|
Region |
City/ Port |
Price type |
Price as of Oct 20 (RMB/tonne) |
Price as of Oct 27 (RMB/tonne) |
Price change (RMB/tonne) |
|
Heilongjiang |
Haerbin |
Ex-warehouse |
1,560 |
1,540 |
-20 |
|
Jilin |
Changchun |
Ex-warehouse |
1,630 |
1,630 |
0 |
|
Liaoning |
Shenyang |
Ex-warehouse |
1,650 |
1,640 |
-10 |
|
Inner Mongolia |
Tongliao |
Ex-warehouse |
1,540 |
1,520 |
-20 |
|
Shandong |
Dezhou |
Ex-warehouse |
1,700 |
1,700 |
0 |
|
Shandong |
Weifang |
Ex-warehouse |
1,740 |
1,740 |
0 |
|
Hebei |
Shijiazhuang |
Ex-warehouse |
1,680 |
1,680 |
0 |
|
Henan |
Zhengzhou |
Ex-warehouse |
1,840 |
1,840 |
0 |
|
Jiangsu |
Xuzhou |
Ex-warehouse |
1,820 |
1,820 |
0 |
|
Shaanxi |
Xi'an |
Ex-warehouse |
1,850 |
1,850 |
0 |
|
Jiangsu |
Lianyungang |
Rail Station |
1,730 |
1,720 |
-10 |
|
Zhejiang |
Hangzhou |
Rail Station |
1,820 |
1,820 |
0 |
|
Shanghai |
- |
Rail Station |
1,820 |
1,820 |
0 |
|
Sichuan |
Chengdu |
Rail Station |
2,060 |
2,060 |
0 |
|
Liaoning |
Dalian |
FOB |
1,730 |
1,720 |
-10 |
|
Liaoning |
Jinzhou |
FOB |
1,740 |
1,730 |
-10 |
|
Guangdong |
Shekou Port |
CIF |
1,860 |
1,850 |
-10 |
|
Fujian |
Fuzhou |
CIF |
1,800 |
1,800 |
0 |
|
All prices are representative and are for reference only. | |||||
Increased availability of fresh corn exerted pressure on the market. However, as farmers were reluctant to release inventories at current prices levels, price falls were limited to 0.30% on average.
Market forecast
Corn market will face greater pressure in November when the bulk of grain in the northeast region is ready for sale. Moreover, more auctioned reserves corn will be released to the market within the next two months. Prices of corn are expected to fall more significantly in the coming period amid ample availability.
