December 13, 2016
China Corn Weekly: Market under pressure on rising supplies (week ended Dec 9, 2016)
An eFeedLink Exclusive
Price summary
Prices were mostly lower.
|
Weekly transacted prices of second-grade corn in China (Moisture content 14%) | |||||
|
Region |
City/ Port |
Price type |
Price as of Dec 2 (RMB/tonne) |
Price as of Dec 9 (RMB/tonne) |
Price change (RMB/tonne) |
|
Heilongjiang |
Haerbin |
Ex-warehouse |
1,500 |
1,500 |
0 |
|
Jilin |
Changchun |
Ex-warehouse |
1,620 |
1,614 |
-6 |
|
Liaoning |
Shenyang |
Ex-warehouse |
1,620 |
1,620 |
0 |
|
Inner Mongolia |
Tongliao |
Ex-warehouse |
1,630 |
1,624 |
-6 |
|
Shandong |
Dezhou |
Ex-warehouse |
1,700 |
1,700 |
0 |
|
Shandong |
Weifang |
Ex-warehouse |
1,720 |
1,702 |
-18 |
|
Hebei |
Shijiazhuang |
Ex-warehouse |
1,652 |
1,650 |
-2 |
|
Henan |
Zhengzhou |
Ex-warehouse |
1,760 |
1,760 |
0 |
|
Jiangsu |
Xuzhou |
Ex-warehouse |
1,800 |
1,800 |
0 |
|
Shaanxi |
Xi'an |
Ex-warehouse |
1,660 |
1,660 |
0 |
|
Jiangsu |
Lianyungang |
Rail Station |
1,800 |
1,800 |
0 |
|
Zhejiang |
Hangzhou |
Rail Station |
1,950 |
1,946 |
-4 |
|
Shanghai |
- |
Rail Station |
1,950 |
1,946 |
-4 |
|
Sichuan |
Chengdu |
Rail Station |
2,028 |
1,992 |
-36 |
|
Liaoning |
Dalian |
FOB |
1,734 |
1,710 |
-24 |
|
Liaoning |
Jinzhou |
FOB |
1,734 |
1,710 |
-24 |
|
Guangdong |
Shekou Port |
CIF |
1,942 |
1,940 |
-2 |
|
Fujian |
Fuzhou |
CIF |
1,966 |
1,950 |
-16 |
|
All prices are representative and are for reference only. | |||||
Market analysis
As the availability of corn increased with more autumn crops ready for sale, prices were under pressure in several regions. Additionally, deliveries from the production region improved, hence easing the supply tightness in the consumption region.
Nonetheless, feed millers expanded inventories prudently while the livestock feed demand improved. Overall, corn prices dipped 0.45% over the week on average.
Market forecast
Even though corn farmers may hold back releases, the upward scope of the corn market will be limited with supplies plentiful. Prices are seen stable to lower in the coming period despite higher feed demand with the livestock sectors preparing for January's pre-Chinese New Year market.
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