December 14, 2020

China Corn: Prices climb to new highs, government releases reserves (week ended Dec 11, 2020)

China government halted corn reserves stockpiling and released 576,600 tonnes of state reserves. Traders turned cautious while supplies increased, hence limiting corn price rise.

  
Corn prices increased 0.89% compared with the previous week, hitting new record high.

Speculators will be more cautious with corn purchases as the government attempts to tame corn price inflation. Nevertheless, with corn harvest poor this year, prices are expected to strengthen further in the longer term.

Full version of the report is available at: https://spoutinfo.com/market-forecast-detail/31/32/265/2647

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