1. China's corn starch price trend
According to SunSirs monitoring, domestic corn starch prices continued to adjust slightly last week. The average price of edible first-grade corn starch at the beginning of the week was RMB 2,823.33/ton, and the average price at weekend was RMB 2,813.33/ton, a slight decrease of 0.35%.
2. Market Analysis
Entering the end of August, the corn reserve auction is coming to an end. The average transaction price dropped again this week, the domestic corn market price has been adjusted weakly, the cost of raw materials has continued to fall, and the ultra-high starch price market is not buying, and shipments are limited. Under the dual suppression of cost and demand, domestic corn starch prices have fallen this week.
On August 27, 2020, the National Grain Trading Coordination Center of the National Grain and Material Reserve Bureau and the National Grain Trading Center of the networked provinces (autonomous regions and municipalities) organized the National Temporary Storage Corn Bidding Fair, and plans to be listed on the National Reserve in 2015, 2016, and 2018. Stored in Heilongjiang, Jilin, Liaoning, and Inner Mongolia, 3,988,499 tons of corn, 3,546,757 tons of corn, 88.92% of the transaction, the highest price of 2,210 yuan/ton, the lowest price of 1,640 yuan/ton, and the average transaction price of 1,919 yuan/ton.
SunSirs corn starch product analysts believe that the downstream trade entities have a strong wait-and-see attitude, and the cost of raw materials continues to fall. In the short term, the domestic corn starch market price still has room for a fall.
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