December 13, 2022
China Corn: Cautious mood, higher supply soften prices (week ended Dec 12, 2022)
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After rising over 3% in six weeks, corn prices softened lately as more farmers were enticed to release inventories with prices higher. Buyers were cautious with purchases as the economic outlook of China remained uncertain.
Corn prices averaged RMB2,910/tonne, increasing RM13/tonne or 0.44% compared with the previous week.
Corn prices are likely to move lower in the near term with buyers prudent and availability increased.
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