November 6, 2017

China Corn Weekly: Market stays weak awaiting state buying(week ended Nov 3, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices movedlower.
 

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

Region

City/ Port

Price type

Price as of Oct 27  (RMB/tonne)

Price as of Nov 3 (RMB/tonne)

Price change (RMB/tonne)

Heilongjiang

Haerbin

Ex-warehouse

1,540

1,520

-20

Jilin

Changchun

Ex-warehouse

1,630

1,620

-10

Liaoning

Shenyang

Ex-warehouse

1,640

1,620

-20

Inner Mongolia

Tongliao

Ex-warehouse

1,520

1,480

-40

Shandong

Dezhou

Ex-warehouse

1,700

1,700

0

Shandong

Weifang

Ex-warehouse

1,740

1,780

40

Hebei

Shijiazhuang

Ex-warehouse

1,680

1,660

-20

Henan

Zhengzhou

Ex-warehouse

1,840

1,880

40

Jiangsu

Xuzhou

Ex-warehouse

1,820

1,850

30

Shaanxi

Xi'an

Ex-warehouse

1,850

1,840

-10

Jiangsu

Lianyungang

Rail Station

1,720

1,700

-20

Zhejiang

Hangzhou

Rail Station

1,820

1,810

-10

Shanghai

-

Rail Station

1,820

1,840

20

Sichuan

Chengdu

Rail Station

2,060

2,080

20

Liaoning

Dalian

FOB

1,720

1,690

-30

Liaoning

Jinzhou

FOB

1,730

1,700

-30

Guangdong

Shekou Port

CIF

1,850

1,840

-10

Fujian

Fuzhou

CIF

1,800

1,800

0

All prices are representative and are for reference only.
RMB1=US$0.1507(Nov 3)

 

Market analysis
 
Corn prices continued to fall as supplies of grains increased further. However, even as demand was flat, price falls were limited as farmers were reluctant to release inventories as price fell below expectations.
 
On average, corn prices slid 0.28% over the week.
 
 
Market forecast
 
China's government has announced that statepurchase for corn reserves will total 50 million tonnes this year. Price falls of corn will therefore be limited in the coming period despite ample availability and slow feed demand.
 
 


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